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REQUEST FOR CITY COUNCIL AGENDA ITEM <br />Appropriation <br />Agenda Date Requested: August 27, 2007 <br />Requested By: Wayne J. Sabo <br />Department: Planning <br />Report: Resolution: Ordinance: X <br />Exhibits: <br />1. Ordinance <br />2. Area Map <br />Source of Funds: N/A <br />Account Number: N/A <br />Amount Budgeted: N/A <br />Amount Requested: <br />Budgeted Item: _YES X NO <br />SUMMARY & RECOMMENDATION <br />The City has received an application from DFMA Properties to vacate, abandon and close the <br />North 141h Street Right -of -Way (24,000 sq. ft.) between Blocks 682 & 683, La Porte. The <br />applicant desires to close the subject right-of-way in order to create a single economic unit of land <br />to facilitate future development. <br />City Staff as well as each of the City's franchised utility companies (i.e. Centerpoint Energy, <br />AT&T & Comcast) has reviewed the request and expressed no objection to the closing. <br />In accordance with Section 62.35 of the Code of Ordinances, Staff has ordered an independent <br />appraisal of the North 14th Street Right -of -Way. As a result, the fair market value has been <br />appraised at $.75 per square foot. The City has subsequently received payment from the applicant <br />in the amount of $13,440 (75% of Fair Market Value as per the ordinance) for closing 24,000 <br />square feet of right-of-way. <br />Recommendation: <br />Staff recommends vacating, abandoning, and closing the North 14th Street Right -of -Way as <br />described. <br />Action Required of Council: <br />Consider approval of an ordinance vacating, abandoning, and closing the North 14th Street Right - <br />of -Way between Blocks 682 & 683, Town of La Porte. <br />Approved for City Council Agenda <br />�2 f v 7 <br />D to <br />