Title
Resolution to Approve Agreement for the Sale of Strip of Land to the Ann Arbor Transportation Authority and Appropriate Funds (portion of 350 S. Fifth Ave.) ($90,000.00) (8 Votes Required)
Memorandum
Attached for your review and action is a resolution to approve a sale agreement between the City of Ann Arbor and the Ann Arbor Transportation Authority (AATA) of a strip of City-owned land 6 feet wide by 132 feet long. The strip is immediately adjacent to the Blake Transit Center and part of the City-owned property bounded by East William Street and South Fourth and South Fifth Avenues currently used as a surface parking lot managed by the Downtown Development Authority. The strip itself is currently utilized for electrical utility infrastructure components located between the two parallel curbs and filled with stone mulch.
The AATA offered to purchase the property in order to incorporate this portion of land into a new transit center planned for at the site currently occupied by the Blake Transit Center. AATA has indicated that the addition of this 6’ section would create opportunities for additional outdoor program space (bicycle lockers, landscaping, seating, recycling/refuse area, informational signage) as well as improving the overall urban character of this ancillary space.
The DDA Executive Director was advised of the offer to purchase made by the AATA and has no objection to the sale. The sale will not affect the total number of parking spaces in the surface lot.
Sale Agreement:
An appraisal was completed for the strip of land in June 2011 establishing the fair market value for the property as $90,000.00.
The attached resolution approves the Sale Agreement contingent on the following:
A. Subject to all existing utility infrastructure easements.
B. Payment by Purchaser of all closing costs.
Sale proceeds will be appropriated to General Fund, NonDepartmental
Staff
Prepared by: Mary Joan Fales, Senior Assistant City Attorney
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