Title
Resolution to Purchase Vacant Property Located on Meadowcreek Drive, Owned by Windy Crest Partnership, and Appropriate $95,500.00 from the Open Space and Parkland Preservation Millage Proceeds (8 Votes Required)
Memorandum
Attached for your review and action is a resolution to approve the purchase of the property owned by Windy Crest Partnership, a vacant property located on Meadowcreek Drive, and appropriate $95,500 from the Open Space and Parkland Preservation Millage Proceeds. The tax parcel ID is I-09-26-325-021.
The parcel is located immediately adjacent to Ruthven Nature Area and the site will provide expansion of the existing nature area. The site would be maintained as a natural area and managed by the Natural Area Preservation staff consistent with restoration efforts on the adjacent Ruthven Nature Area including prescribed ecological burns and removal of non-native species. The site contains a portion of Millers Creek and is predominantly in the floodplain.
A Phase I Environmental Site Assessment will be completed on the property, prior to closing. Once the purchase is complete, City staff will start the annexation and rezoning process.
An appraisal was completed for the development rights on the property in October 2012, and the fair market value was determined to be $110,000 for approximately 8 acres. The resolution approves a purchase price of $110,000 based on a fair market appraisal of the property, and approves a total project budget of $95,500 from the Open Space and Parkland Preservation Millage Proceeds to cover the purchase price, due diligence and closing costs.
Project Budget:
Purchase Price $110,000
County (25%) contribution $27,500
City contribution $82,500
City purchase price $82,500
Est. Closing Costs $3,000
Est. Due Diligence Expenses $10,000
Total Appropriation $95,500
Participation Agreement:
The City will hold title to the property and be responsible for management of the property. Washtenaw County Parks and Recreation will contribute funds toward the acquisition of the property in the amount of $27,500.
The City's share is from the Open Space and Parkland Preservation Millage proceeds.
The Land Acquisition Committee of the Parks Advisory Commission recommended participating with Washtenaw County Parks and Recreation, and the appropriation of funds at its December 4, 2012 meeting.
Attachment: Location Map
Staff
Prepared By: Ginny Trocchio, The Conservation Fund
Reviewed by: Sumedh Bahl Community Services Area Administrator
Approved by: Steven D. Powers, City Administrator
Body
Whereas, Purchase of parkland may be funded through the Open Space and Park Land Preservation Millage Proceeds;
Whereas, The property is adjacent to an existing park (Ruthven Nature Area) and has qualities suitable for park use as determined by the Park Advisory Commission and Parks and Recreation Staff;
Whereas, Chapter 42 of the Ann Arbor City Code specifically authorizes City Council to enter into agreements for joint acquisition of land with other government agencies;
Whereas, The property has been appraised as required by Section 1:320 of the Ann Arbor City Code;
Whereas, The Purchase Price of the property is $110,000.00; and
Whereas, There are sufficient funds in the Open Space and Parkland Preservation Millage Proceeds to cover the purchase price, due diligence and closing costs;
RESOLVED, That City Council approve the purchase of the vacant property on Meadowcreek Drive, with a tax parcel ID of I-09-26-325-021, owned by Windy Crest Partnership to provide an addition to Ruthven Nature Area;
RESOLVED, That City Council appropriate funds from the Open Space and Parkland Preservation Millage Proceeds and establish a project budget for the acquisition of the property in the amount of $95,500.00 to cover the costs of acquisition, closing, and incidental costs to be available for expenditure without regard to fiscal year;
RESOLVED, That the Mayor and City Clerk be authorized and directed to execute the purchase and sales agreement after approval as to substance by the City Administrator and as to form by the City Attorney;
RESOLVED, That the City Administrator be authorized and directed to implement this resolution, including the execution of necessary closing documents specified in the purchase and sale agreement after approval as to form by the City Attorney; and
RESOLVED, That the Mayor and City Clerk be authorized and directed to execute the Participation Agreement defining each party's interest in the acquisition and if required, any supplemental documents necessary to document the appropriation of funds, after approval as to form by the City Attorney.