Approve an ordinance authorizing a Compromise, Settlement Agreement rectifying a disputed tree removal at George Bush Intercontinental Airport/Houston (IAH) which is a condition of and a component of an Agreement for Exchange of Real Property Interest at IAH.
Specific Explanation:
The Houston Airport System (HAS) requests a City Council action to consider the approval of a Compromise, Settlement Agreement rectifying a disputed tree removal at IAH.
HAS and Revista, Inc. (Revista) share common boundaries at IAH wherein trees were removed on both land owned by HAS and Revista.
HAS and Revista sought a mutually beneficial compromise and settlement over the disputed tree removal and for good and valuable consideration have executed a Compromise, Settlement Agreement.
The Compromise, Settlement Agreement is a condition of and a component of an Agreement for Exchange of Real Property Interest at IAH.
The Claims and Subrogation Section of the Legal Department prepared the Compromise, Settlement Agreement and reviewed all related documentation.
Director's Signature:
_____________________
Mario C. Diaz
Houston Airport System