SUBJECT: PROPERTY: Recommendation approving and authorizing the TRANSFER OF FUNDS in the amount of $433,965.00 from Fund 4042 – Street and Drainage & Traffic Control DDSRF to the Houston Airport System Revenue Fund 8001 for the transfer of Parcel LY15-006, located at 2542 Peyton Road for detention for the GREENS ROAD PAVING AND DRAINAGE PROJECT (from Aldine Westfield to John F. Kennedy Boulevard), WBS N-000686-0002-2-0, OWNER: The City of Houston, a Municipal Corporation situated in Harris, Fort Bend and Montgomery Counties, Texas.
RECOMMENDATION: (Summary) A Motion be passed and authority be given to transfer $433,965.00 from Fund 4042 – Street and Drainage & Traffic Control DDSRF to the Houston Airport System Revenue Fund 8001 for the transfer of Parcel LY15-006, located at 2542 Peyton Road for the GREENS ROAD PAVING AND DRAINAGE PROJECT (from Aldine Westfield to John F. Kennedy Boulevard).
SPECIFIC EXPLANATION:
The GREENS ROAD PAVING AND DRAINAGE PROJECT (from Aldine Westfield to John F. Kennedy Boulevard), is a project designed to improve traffic flow/circulation, reduce congestion, and eliminate potential hazards on Greens Road, a designated major thoroughfare. This joint project with TxDOT approved by Ordinance 2015-707, passed July 29, 2015, consists of the removal of the original two lane asphalt roadway and replacement with a four lane concrete divided boulevard with curbs, sidewalks and street lighting, an underground storm sewer system, off-site storm sewer detention facilities, and replacement of sanitary sewer and water lines.
Parcel LY15-006, which is owned by the Houston Airport System (HAS), is needed for detention for the subject project. Houston Airport System is supportive of this project and has approved the transfer of this parcel. Since federal funds were used by the Houston Airport System to acquire the property, a transfer of funds to compensate the Houston Airport System is required.
TRANSFER OF FUNDS:
The Department of Public Works and Engineering desires to utilize 206,650 square feet of land owned by the Houston Airport System for detention purposes. An appraisal was performed by Simon Luttman and W.F. Trotter, MAI. The valuation was reviewed and recommended for approval by a senior staff appraiser of this department. The breakdown is as follows:
Parcel LY15-006 (Fee)
LAND:
206,650 square feet @ $2.10 per square foot $ 433,965.00
TOTAL AMOUNT $ 433,965.00
It is recommended a Motion be passed and authority be given to transfer $433,965.00 from Fund 4042 – Street and Drainage & Traffic Control DDSRF to the Houston Airport System Revenue Fund 8001 for the transfer of Parcel LY15-006, located at 2542 Peyton Road for the GREENS ROAD PAVING AND DRAINAGE PROJECT (from Aldine Westfield to John F. Kennedy Boulevard).
Parcel LY15-006, located at 2542 Peyton Road, is owned by Houston Airport System. This parcel contains 206,650 square feet of land situated in the McAuley Survey, A-577, being all of Lot 9, J.C. Hayes Subdivision, a subdivision of record under Volume 12, Page 48 of the Harris County Map Records and being all of that certain called 2.001 acre tract of land (designated as Tract 1) and being all of that certain called 3.77 acre tract of land (designated as Tract 2) both conveyed to the City of Houston deed dated October 26, 2004 and recorded under Harris County Clerk’s File Y026331 of the Official Public Records of Real Property, Harris County, Texas, according to City of Houston approved field notes.