R-2003-29 approve purchase of office building by HCAD

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. e ,', are that the total annual cost of the new building will be considerably less than the amount currently budgeted for space. A table illustrating the comparison is shown below. Existing space 2004 Budget 13013 NW Freeway Office Space Electricity and Water Building and Fixture Maintenance Casualty &. liability Insurance Reserve fund for replacements Total $ 3,653,599.00 $ 2,275,644.00 $ 112,900.00 $ 278,320.00 $ 85,000.00 $ 638,960.00 $ 65,000.00 $ 62,720.00 $ 196,000.00 $ 3,916,499.00 $ 3,451,644.00 Note: Under the Brookhollow lease, the district is only responsible for utility and expense costs In excess of $6.00 per square foot. Advantages of this facility In addition to lower overall cost, the primary advantages of the 13013 Northwest Freeway building will be: · We will be able to consolidate nearly all of our hearings and public infonnation facilities on the first floor. Currently, in peak hearing season, we have property owners and consultants on six different floors, which is a logistical and security nightmare. The new building will be much more customer friendly. · The district will own the building at the end of the lease. · The location, approximately 3 miles from the current facility, fronts directly on a major highway and is easily accessible from all parts of the county. · The building will provide room for expansion, should it be necessary. · The building will be fully ADA compliant. The current facilities are not. · Separate ~arehouse space will not be needed. · The lower cost of ownership, as opposed to the present lease arrangement, will reduce the cost of appraisal district operations and result in a savings to each participating taxing unit. What the jurisdictions need to do Section 6.051, Tax Code, provides that the acquisition of real property by an appraisal district must be approved by the governing bodies of three-fourths of the taxing units entitled to vote on the appointment of board members. An entity that fails to indicate approval is considered to be a no vote. Time is also of the essence. The HeAD board plans to fonnally approve the proposal at its October 15, 2003 meeting. After the approval, the chief appraiser will send you formal notification of the purchase. Your governing body may approve the purchase at 2