Title
Resolution Authorizing Conveyance of Foreclosure Properties Located at 2122 McConnell Road and 2120 Everitt Street to the Redevelopment Commission of Greensboro
Body
Department: Engineering & Inspections
Council District: 1
Contact 1 and Phone: Kenney McDowell: 373-2302
Contact 2 and Phone: Ted Partrick: 373-2302
PURPOSE:
The Property Management Section of the Engineering & Inspections Department is in the process of conveying surplus land consisting of two non-buildable, vacant, residential lots located at 2122 McConnell Road and 2120 Everitt Street, parcels 0013505 and 0013503, to the adjoining owner, The Redevelopment Commission of Greensboro. City Council approval is requested to proceed with the conveyance of these properties.
BACKGROUND:
Ownership of the properties was the result of foreclosures for either taxes or assessments. The conveyance of these properties are in accordance with Section 4:124 of the City Code of Ordinances, “Sale or Exchange of Excess Property”. The City’s Planning Department intends to add these properties into the Willow Oaks Community for development of these lots along with the adjoining lot that they already own at 2128 Everitt Street.
The subject properties were recently valued by Lynn R. Ritchie, an independent appraiser, at a total of $8,500. The Redevelopment Commission of Greensboro agreed to reimburse the Foreclosure Account in the General Fund in the appraised amount. The Foreclosure account was the source for the funds required to purchase the property in the foreclosure proceedings.
The total area of the McConnell Road property is 9,583 Sq. Ft., (0.22 acre), and the total area of the Everitt Street property is 7,350 Sq. Ft., (0.17 acre). These properties are zoned TN Traditional Neighborhood.
BUDGET IMPACT:
The reimbursement from the Redevelopment Commission will be credited to the Foreclosure Accounts Receivable #101-0000-00.0400 of the General Fund in the amount of $8,500. Once all costs related to advertising, property transfer fees, and maintenance are paid, any net remaining amount will be recorded as revenue from the sale of these properties.
RECOMMENDATION / ACTION REQUESTED:
The Property Management Section of the Engineering & Inspections Department recommends that City Council approve and authorize the conveyance of these surplus properties at 2122 McConnell Road and 2120 Everitt Street.
COMMITTEE ACTION: This item was referred to Council by the Infrastructure Committee.