ORDINANCE finding and determining that public convenience and necessity no longer require the continued use of Katy Street, from Maxroy Street to Kansas Street; vacating and abandoning the street to Fenway Development, Inc., abutting owner, in consideration of the payment of $465,864.00 to the City and other consideration - DISTRICT C - COHEN

SUBJECT: Ordinance authorizing the abandonment and sale of Katy Street, from Maxroy Street to Kansas Street, located in the Cottage Grove Fourth Section, out of the J Reinerman Survey, A-642.  Parcel SY15-020.

RECOMMENDATION: (Summary) It is recommended City Council approve an ordinance authorizing the abandonment and sale of Katy Street, from Maxroy Street to Kansas Street, located in the Cottage Grove Fourth Section, out of the J Reinerman Survey, A-642.  Parcel SY15-020.

SPECIFIC EXPLANATION:  By Motion 2014-1047, City Council authorized the subject transaction.  Fenway Development, Inc., (Carmen Pearson, Vice President), the abutting property owner, plans to construct a new single family development over the subject street.

Fenway Development, Inc., has complied with the motion requirements, has accepted the City’s offer, and has rendered payment in full.

Parcel SY15-020

16,638 square-foot street easement:    $465,864.00

Valued at $28.00 per square foot

TOTAL SALE                                        $465,864.00

Therefore, it is recommended City Council approve an Ordinance authorizing the abandonment and sale of Katy Street, from Maxroy Street to Kansas Street, located in the Cottage Grove Fourth Section, out of the J Reinerman Survey, A-642.

Nancy P. Collins

Phone: (832) 395-3130