Title
Resolution Authorizing Conveyance of Property Located at 714 North English Street
Body
Department: Engineering & Inspections
Council District: 2
Public Hearing: N/A
Advertising Date/By: N/A
Contact 1 and Phone: Kenney McDowell 373-2302
Contact 2 and Phone: Ted Partrick 373-2308
PURPOSE:
The Property Management Section of the Engineering & Inspections Department is in the process of selling surplus property to an adjoining owner. The property is located at 714 N. English Street. There is no municipal use for the property. City Council approval is requested for the sale of this property.
BACKGROUND:
The Transportation Department acquired this parcel with a house in 2012 for the Wendover East Sidewalk project. The house that was demolished on the lot was too close to the street after the purchase of the Right of Way. Because the remainder of the vacant parcel is non-buildable due to lack of any legal driveway access, the adjoining owners were notified of the availability of this property (Charter Section 4.124, Sale or exchange or excess property). It has been determined that there is no municipal need for this surplus property.
The subject property is located at 714 N. English Street, parcel #0020012. It is zoned C-M (Commercial Medium) and has an area of approximately 6,752 Sq. Ft. (.15 acre). The buyer is owner of the adjoining property at 712 N. English Street, Ms. Hae Sook Kim. The property was appraised by Tonya Brady of McNairy and Associates and was valued at $10,800. After negotiations, staff agreed to accept $9,720 for this surplus land.
The accepted sale price complies with the department's policy requiring that sales prices be at least 90% of the appraised value of properties.
BUDGET IMPACT:
The property was purchased with a State Grant and matching Street Improvement Bond funds (441) for the construction of the Wendover East Sidewalk project. The revenue is to be deposited into the Debt Service Fund, Account #301-0000-00.8616.
RECOMMENDATION / ACTION REQUESTED:
The Property Management Section of the Engineering & Inspections Department recommends that City Council approve this sale.