Title
Resolution to Approve the Purchase of Development Rights on the Sheldon and Wolf Property in Webster Township, and Appropriate Funds, Not to Exceed $82,067.00 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 development rights on the property owned by Jane Sheldon and Robert Wolf in Webster Township.
The 20-acre property is located on Zeeb Road, and is adjacent to active farmland and additional farmland that has been protected by the Greenbelt Program and Webster Township. The property is located in one of the areas designated by the Greenbelt Advisory Commission as a priority for farmland preservation in their Strategic Plan.
The landowners applied to the Greenbelt Program in 2012.
Purchase Agreement:
The Greenbelt commissioned an appraisal that was completed in March 2013. The Fair Market Value was determined to be $54,000.00 for the Purchase of Development Rights. The Greenbelt Advisory Commission recommended moving forward with the purchase of development rights at its May 2, 2013 meeting, if 20% ($10,800.00) of the Fair Market Value was secured in matching funds. The landowners are willing to make a donation of $6,500.00 toward the purchase price and Webster Township is contributing $2,000.00 toward the purchase price. The Greenbelt program has received donations from Cherry Republic for farmland preservation. A portion of those contributions ($2,300.00) will be used to reach the 20% match requested by the Greenbelt Advisory Commission.
The attached resolution approves the Purchase Agreement for the Sale of Agricultural Land Development Rights on the farm. The Purchase and Sale of the development rights is contingent on the following:
A. Approval of the appraisal by the City for the establishment of a fair market price for the development rights;
B. Conveyance of good and marketable title to the development rights;...
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