The City of Houston approved the sale of a ±7,000.2 square foot tract of surplus land, identified as Parcel SY23-050, located in the Lincoln City Section 5 subdivision, to Sumer Group, LLC. The property was declared surplus by Houston Public Works and sold via a public bid process. Sumer Group, LLC submitted the highest bid of $95,000, exceeding the appraised fair market value of $77,350. This sale is in accordance with Section 2-236 of the City Code of Ordinances, which allows for the sale of City-owned surplus land through a competitive bid process.
The sale of this surplus property generates revenue for the City and reduces unused assets. It provides an opportunity for redevelopment or alternative uses by the buyer, contributing to local economic activity.