SUBJECT: Purchase and Sale Agreement with AMA Capital Systems LLC (Buyer) for the sale of a ±0.322-acre (13,939 sq. ft.) tract being out of Lot 4 and Lot 5 of the Edward Shipman Survey, A-68, as recorded in Volume 439, Page 612 of the Harris County Deed Records. Parcel SY22-045
RECOMMENDATION: It is recommended City Council approve an ordinance authorizing a Purchase and Sale Agreement between the City of Houston and AMA Capital Systems LLC (Buyer) for the sale of a ± 0.322-acre (13,939 sq ft) tract, being out of Lot 4 and Lot 5 of the Edward Shipman Survey, A-68, as recorded in Volume 439, Page 612 of the Harris County Deed Records, for a purchase price of $203,600.00 Parcel SY22-045.
SPECIFIC EXPLANATION: The City of Houston acquired Parcel SY22-045 by annexation in 1996 as a well site. Houston Public Works – Houston Water – Drinking Water Operations determined that the property was surplus to its needs. After all City departments with land needs were canvassed with no interest in the property, it was advertised for public bid sale. Two bids were received, with AMA Capital Systems LLC (Buyer) being selected as the winning bidder based on submitting the highest bid at $203,600.00. This bid exceeded the fair market value for the property established by appraisal to be $78,127.00.
The sale is in accordance with Section 2-236 of the City of Houston Code of Ordinances, which provides that any land owned by the City, other than land provided for in Sections 2-237, 2-238 and 2-239, determined not to be needed for City purposes, shall be advertised and may be sold to the highest bidder upon authorization of the City Council, based upon the appraised fair market value of such land.
The City will sell to AMA Capital Systems LLC (Buyer):
Parcel SY22-045
±13,939 square foot tract of land $203,600.00
TOTAL SALE $203,600.00
It is recommended City Council approve an ordinance authorizing a Purchase and Sale Agreement between the City of Houston and AMA Capital Systems LLC (Buyer) for the sale of ±0.322-acre (13,939 sq. ft.) tract, located at 0 Crosby Fwy E, being out of Lot 4 and Lot 5 of the Edward Shipman Survey, A-68, as recorded in Volume 439, Page 612 of the Harris County Deed Records for a purchase price of $203,600.00. It is further recommended that City Council authorize the Mayor to execute and the City Secretary to attest the Special Warranty Deed conveying the property to AMA Capital Systems LLC (Buyer).
FISCAL NOTE:
Revenue for this item is included in the FY2026 Adopted Budget. Therefore, no Fiscal Note is required as stated in the Financial Policies.
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Randall V. Macchi, JD
Director, Houston Public Works