SUBJECT: Ordinance authorizing the abandonment of a portion of Chenevert Street, from Capitol Avenue to Texas Avenue, located in the South Side Buffalo Bayou Addition, out of the J. S. Holman Survey, A-323. Parcel SY14-048.
RECOMMENDATION: (Summary) It is recommended City Council approve an ordinance authorizing the abandonment of a portion of Chenevert Street, from Capitol Avenue to Texas Avenue, located in the South Side Buffalo Bayou Addition, out of the J. S. Holman Survey, A-323. Parcel SY14-048
SPECIFIC EXPLANATION:
By Motion 2014-0115, City Council authorized the subject transaction. Thereafter, NCN Group, Inc., (Nicholas Hiransomboon, President), an abutting property owner, opted not to participate in the Joint Referral Committee transaction to abandon Chenevert Street. The applicant, Convention and Entertainment Facilities Department (CEF), (Dawn Ullrich, Director), planned to incorporate the portion of Chenevert Street into its abutting property to facilitate the construction of the Nau Center for Texas Cultural Heritage. Although the development of the Nau Center for Texas Cultural Heritage will not occur at this time, CEF would like to continue with the street abandonment to incorporate the subject portion of Chenevert Street into its abutting property for future development.
Because the construction requirements associated with this transaction will be completed after the City Council passes the Ordinance, Houston First Corporation (HFC) provided a Letter of Credit (LOC) on behalf of CEF for $9,370.00, an amount equal to the total estimated construction costs required to complete Item 5 of Motion 2014-0115. The LOC will be for a specific time period which may be less than but not longer than twelve months from the effective date of the ordinance for this transaction. The Director of PWE or his designee may authorize one extension of the LOC which may be less than but not longer than twelve months, if the applicant has received approved permits and commenced construction of the work required within the initial term of the LOC. Should the conditions of the LOC not be satisfied upon expiration of the LOC, a recommendation will be submitted to the City Council to rescind the ordinance that abandoned the City’s property interest(s). All funds paid by HFC on behalf of CEF will be forfeited. Upon the applicant’s satisfactory completion of the construction-related work as evidenced by written inspection clearance/approval by the Office of the City Engineer, PWE, at the applicant’s request the City will release the LOC.
Therefore, it is recommended City Council approve an ordinance authorizing the abandonment of a portion of Chenevert Street, from Capitol Street to Texas Avenue, located in the South Side Buffalo Bayou Addition, out of the J. S. Holman Survey, A-323.