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<br />e <br /> <br />e <br /> <br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />AGENDA DATE REQUESTED October 26. 1992 <br /> <br />REQUESTED BY Jeff Litchfield <br /> <br />DEPARTMENT Director of Finance <br /> <br />REPORT <br /> <br />RESOLUTION <br /> <br />xxx <br /> <br />ORDINANCE <br /> <br />EXHIBITS: Discussion Letters <br />Ordinance and companion Contract <br /> <br />SUMMARY AND RECOMMENDATION <br /> <br />During the 1992-93 budget process, funds were set aside to allow for the <br />change in the method of obtaining values on properties located in the City's <br />two Industrial Districts. <br /> <br />The current method of receiving the values from the Harris County Appraisal <br />District was determined to be unacceptable to the City. Values were not <br />provided on a timely basis nor were they correct. Considerable effort was <br />required of City staff to have changes made to the lists. <br /> <br />Taxes and In-Lieu of Taxes payments received from the companies located in our <br />Industrial Districts represent 60% of the total funds raised from the ad <br />valorem tax process and therefore need to receive our utmost attention. <br /> <br />The return to an independent appraiser coincides with the renegotiation of our <br />industrial district contracts. <br /> <br />We recommend that the City return to the firm that provided the values for the <br />twenty-two year period prior to the change to HCAD. The firm is Hugh L. <br />Landrum and Associates and we believe that Mr. Landrum can provide valuable <br />insight and historical information during the contract renegotiation process <br />in addition to providing accurate values on a timely basis. Mr. Landrum was <br />able to provide the City accurate and timely values during his earlier tenure <br />with the City. <br /> <br />In negotiations with Mr. Landrum, his services can be reobtained at a cost of <br />$35,000 per annum. <br /> <br />ACTION REQUIRED BY COUNCIL: <br /> <br />Approve Ordinance to enter into a contract with the firm of Hugh L. Landrum <br />and Associates to provide appraisal of the properties located in the City's <br />two Industrial Districts, as well as other related services, at a cost of <br />$35,000 per year for the three year period January 1, 1993 to January 1, 1995. <br /> <br />AVAILABILITY OF FUNDS: <br /> <br />xxx <br /> <br />GENERAL FUND <br /> <br />UTILITY FUND <br /> <br />OTHER <br /> <br />ACCOUNT NUMBER: 001-601-603-507 <br /> <br />FUNDS AVAILABLE: <br /> <br />xx YES <br /> <br />NO <br /> <br />APPROVED FOR CITY COUNCIL AGENDA <br /> <br />~u,rJ: T ~ <br />ROBERT T HERRERA <br />CITY MANAGER <br /> <br />\0 0 'l..O.q'L <br />DATE <br />