SUBJECT: PROPERTY: PURCHASE of Parcel LY15-031, located at 8427 Clinton Drive for the CLINTON DRIVE RECONSTRUCTION PROJECT (from Port of Houston Gate 8 to IH-610).
WBS N-000787-0001-2-01
OWNER: Loc Van Le
RECOMMENDATION: (Summary)
Authority be given through Council Motion to PURCHASE Parcel LY15-031.
SPECIFIC EXPLANATION:
The CLINTON DRIVE RECONSTRUCTION PROJECT (from Port of Houston Gate 8 to IH-610) is designed for the reconstruction and improvement of Clinton Drive, to restore existing drainage, traffic flow/circulation and reduce congestion. This joint project with TxDOT and Harris County consists of the removal and replacement of the original four lane asphalt roadway with a four lane concrete divided roadway with storm sewers, water and sanitary sewer improvements, sidewalks, and pavement markings.
The City will acquire 9,012 square feet in easement out of improved commercial property. The City’s offer was based on an appraisal by Valbridge Property Advisors. The valuation was reviewed and recommended for approval by a senior staff appraiser of this department. The breakdown is as follows:
Parcel LY15-031 (Easement)
LAND:
| 9,012 square feet @ $2.25 PSF x 99% .................. |
$ 20,074.00 (R) |
| Improvements ........................................................... |
$ 3,720.00 |
| Cost to Cure .............................................................. |
$ 44,565.00 |
| Total Consideration ................................................... |
$ 68,359.00 |
| Title Policy and Services .......................................... |
$ 1,453.00 |
| Total Amount ............................................................. |
$ 69,812.00 |
It is recommended that authority be given through Council Motion to PURCHASE the land and improvements thereon for Parcel LY15-031 located at 8427 Clinton Drive, owned by Loc Van Le.
This parcel contains 9,012 square feet of land and improvements thereon for a drainage easement out of a certain tract conveyed to Loc Van Le by deed dated August 19, 1996, recorded under Clerk’s File No. S074721, Harris County Official Records of Real Property (H.C.O.P.R.R.P.), being out of portions of Lots 11 and 12, Block 90, Block 91 and Lee Street (abandoned), Port Houston Addition, Volume 4, Page 45, Harris County Map Records, being situated in the John Brown Survey, A-8, Harris County, Texas, according to City of Houston approved field notes.