Title
Resolution to Purchase Vacant Property Located at 1240 Orkney, Owned by Michael Sousa and Katherine Pittsley, and Appropriate $128,000.00 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 Michael Sousa and Katherine Pittsley, located at 1240 Orkney, and appropriate $128,000.00 from the Open Space and Parkland Preservation Millage Proceeds.
The parcel is located immediately adjacent to Bluffs Nature Area and the site will provide access to the Bluffs Nature Area along Orkney Drive. This purchase will provide the ability to develop access to the Bluffs Nature Area on its west side, the only remaining side with no access as the Area has access on its other three sides.
A Phase I Environmental Site Assessment will be completed on the property, prior to closing.
The resolution approves a purchase price of $115,000.00 based on a fair market appraisal of the property, and approves a total project budget of $128,000.00 from the Open Space and Parkland Preservation Millage Proceeds to cover the purchase price, due diligence and closing costs.
Project Budget:
Purchase Price $115,000.00
Est. Closing Costs $ 3,000.00
Est. Due Diligence Expenses $ 10,000.00
Total Appropriation $128,000.00
Attachment: Location Map
Staff
Prepared By: Ginny Trocchio, The Conservation Fund
Reviewed by: Sumedh Bahl Community Services Area 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 parkland (Bluffs Nature Area) and has qualities suitable for park use as determined by the Park Advisory Commission and Parks and Recreation Staff;
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 $115,000.00; and
Wher...
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