Title
Resolution to Approve Participation Agreement with Ann Arbor Township and Appropriate Funds Not to Exceed $315,500.00 from the Open Space and Parkland Preservation Millage for Purchase of Development Rights on Stiles-Kaldjian Property (8 Votes Required)
Memorandum
This resolution approves a participation agreement with Ann Arbor Township for the purchase of development rights through a conservation easement on a 112.479-acre property owned by Cynthia Stiles and Eric Kaldjian in Ann Arbor Township. The resolution also approves an appropriation of funds not to exceed $315,500.00 for the purchase from the Open Space and Parkland Preservation Millage Proceeds.
The landowners applied to the Ann Arbor Township Farmland and Open Space Land Protection Program and the Township has been the lead agency in the negotiations with the landowners. The Township commissioned an appraisal, completed in June 2017, that determined the fair market value of the development rights on the property to be $730,000.00.
On September 5, 2017, City Council approved a participation agreement with Ann Arbor Township and Washtenaw County Parks and Recreation Commission for the purchase of the development rights on this property. However, subsequently the County declined to contribute to this project and will not participate. Therefore, the Township requested an increase in the contribution from the City's Open Space and Parkland Preservation Millage proceeds and also requested a bargain sale from the landowners. The landowners agreed to a 5% reduction in the purchase price, or $36,500.00. The Township is the lead agency and will be the grantee of the conservation easement.
Stiles - Kaldjian Property, Ann Arbor Township
The property is approximately 112.479 acres, located in Sections 10 and 11 of Ann Arbor Township with legal access from Warren Road. It is owned by Cynthia Stiles and Eric Kaldjian. The property scored in the top 25% of applications received by the Greenbelt Program in...
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