SUBJECT: PROPERTY: PURCHASE of Parcel AY15-066, located at 3601 West Alabama Street for the WEST ALABAMA STREET PAVING AND DRAINAGE PROJECT (from Weslayan Street to Buffalo Speedway), WBS N-000751-0001-2-01; OWNER: 3601 West Alabama, Ltd. (John R. Kamrath, Agent), f/k/a ESG, Ltd., a Texas limited partnership (previously listed as “ESG Limited”), ESG Management, LLC, general partner (Eugenie S. Kamrath Gonzalez, Manager).
RECOMMENDATION: (Summary) Authority be given through Council Motion to PURCHASE Parcel AY15-066.
SPECIFIC EXPLANATION:
The WEST ALABAMA STREET PAVING AND DRAINAGE PROJECT (from Weslayan Street to Buffalo Speedway) will replace a street that has been deteriorated beyond economical repair and normal maintenance. It will provide for the right-of-way acquisition, design and construction of a four-lane undivided concrete roadway with storm drainage, curbs, sidewalks, driveways, street lighting, traffic control and necessary underground utilities to improve traffic circulation, mobility and drainage in the service area and upgrade the existing roadway to Major Thoroughfare Freeway Plan (MTFP) standards.
The City will acquire 1,094 square feet in easement out of land improved with commercial property. The City’s offer was based on an appraisal by David R. Bethel, MAI and Stephen D. Kovar, Jr. The valuation was reviewed and recommended for approval by a senior staff appraiser of this department. The breakdown is as follows:
Parcel AY15-066 (Easement)
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LAND:
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1,094 square feet @ $135.00 PSF X 100%
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$147,690.00
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Improvements
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$3,580.00
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Damages to Remainder/Cost to Cure
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$10,162.00
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Total Consideration
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$161,432.00
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Title Policy and Services
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$2,069.00
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TOTAL AMOUNT
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$163,501.00
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It is recommended that authority be given through Council Motion to PURCHASE Parcel AY15-066, and improvements located thereon at 3601 West Alabama Street, owned by 3601 West Alabama, Ltd. (John R. Kamrath, Agent), f/k/a ESG, Ltd., a Texas limited partnership (previously listed as “ESG Limited”), ESG Management, LLC, general partner(Eugenie S. Kamrath Gonzalez, Manager). This parcel being 1,094 square feet of land for street right-of-way situated in the in the Allen C. Reynolds Survey, Abstract No. 61, Harris County, Texas, being out of a certain tract conveyed to ESG, Ltd. as recorded in Files T712615 and U457932 of the Official Public Records of Real Property of Harris County (O.P.R.R.P.H.C.), Harris County, Texas, according to City of Houston approved field notes.