Title
Resolution to Approve the Sale of City-owned Land Adjacent to the Public Alley between First and Ashley Streets to Jeanne Properties, LLC ($295,000.00) (8 Votes Required)
Memorandum
Attached for your review and approval is a resolution to authorize the sale of a 3,344 square foot parcel located adjacent to the public alley between First and Ashley Streets to Jeanne Properties, LLC (see attached parcel A).
This 3,344 square foot parcel previously contained a ramp structure to provide access to the recently demolished First and Washington Parking Structure. Given the parcel's size and location the City Administrator has determined it is excess property in accordance with City procedures.
The sale of this parcel is indirectly related to the development of the former First and Washington Parking Structure because as the attached map indicates, the former parking structure (parcel C) was of an irregular shape. In order to enhance the development potential of the site, the City needed to purchase a small notch parcel (parcel B on attached map) from the owner of Downtown Home Garden. To induce the previous owner of the notch property, the City agreed to sell parcel A to them. However, it was necessary for the City to retain ownership of parcel A to allow for the relocation of electrical, telephone, cable and City signs and signal lines and installation of permanent utility equipment. Now that these items have been relocated, the City is able to sell parcel A.
The City obtained an appraisal from Alcock & Williams, LLC in connection with the purchase of parcel B. The information in that appraisal was used in negotiating the value of the City-owned parcel A.
The attached resolution authorizes the sale of the property (parcel A) and directs any net proceeds to the General Fund.
Staff
Prepared by: Tom Crawford, CFO
Approved by: Mary Joan Fales, Senior Assistant City Attorney
Body
Whereas, The City Administrator, under the authority granted by Counci...
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