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File #: ORD 21-002    Version: 1 Name:
Type: Ordinance Status: Agenda Ready
File created: 12/22/2020 In control: City Council
On agenda: 1/5/2021 Final action:
Title: Consideration of and action on an ordinance amending the Fiscal Year 2020-2021 Capital Improvements Fund Budget for the purchase of real property.
Attachments: 1. POH - Purchaser's Statement, 2. Ord - Amend Budget FY21 Land from POH, 3. contract
Date Ver.Action ByActionResultAction DetailsMeeting DetailsAudio
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Title

Consideration of and action on an ordinance amending the Fiscal Year 2020-2021 Capital Improvements Fund Budget for the purchase of real property.

 

Body

Summary: 

At the August 18, 2020 City Council Meeting, the City Council amended the Fiscal Year 2019-2020 Capital Improvements Fund budget and approved the purchase of real property from the Port of Houston Authority of Harris County for future use.  This property, representing approximately 1.4538 acres of land and located in the 600 block of West 13th Street, adjoins multiple properties owned by the City, including the western entrance to the Jimmy Burke Activity Center, the Battleground Golf Course, and the Ella & Friends Dog Park.  The Port of Houston Authority has owned the property for many years and agreed to sell it to the City for its appraised value of $205,000.00.   

Only recently has the Port of Houston Authority of Harris County returned the signed Unimproved Property Contract shifting the closing to the new fiscal year.  Because this purchase is now being transacted in the new fiscal year, it is necessary to amend the Fiscal Year 2020-2021 Capital Improvements Fund budget to accommodate the purchase.  The budget amendment will be in the amount of $206,391.00 to include the $205,000.00 purchase price plus related title charges of approximately $1,391.00.  The amount of $206,391.00 will be funded by the current year’s contingency of the Capital Improvements Fund, which is available for this purpose.

 

Fiscal/Budgetary Impact: 

Increase the Fiscal Year 2020-2021 Capital Improvements Fund Budget for the amount of $206,391.00 for the purchase of real property for future use (Account 090-105-49010, Land and Land Rights) to be funded by the contingency of the Capital Improvements Fund, which is available for this purpose.

 

Recommended action

Approve the ordinance to amend the Fiscal Year 2020-2021 Budget for the Capital Improvements Fund for the purchase of real property.