Title
Resolution Authorizing the Purchase of Property in its Entirety Located at 2905 E. Market Street, in the Amount of $95,000, from The Sherri Denese Jackson Foundation for the Prevention of Domestic Violence, Inc. for the Lowdermilk Street/Sykes Avenue Realignment Project #P05710-01
Body
Council Priority: Maintain Infrastructure and Provide Sustainable Growth Opportunities
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 Kallam, 373-2883
PURPOSE:
The Property Management Section of the Engineering & Inspections Department is in the process of purchasing right of way and easements for the Lowdermilk Street/Sykes Avenue Realignment Project. City Council approval is requested for the purchase of this property in its entirety.
BACKGROUND:
The Greensboro Department of Transportation has approved the Lowdermilk Street/Sykes Avenue Realignment Project on behalf of the North Carolina Department of Transportation (NCDOT) Rail Division. This project will realign Sykes and Lowdermilk to intersect at East Market and close Pine Street’s railroad crossing (from East Market to Greensboro Street) in order to improve railroad crossing safety.
The subject property is located at 2905 E. Market Street, parcel #0022031, and is currently used as an office for the Foundation and a residence for the Director of the Board. This property is owned by The Sherri Denese Jackson Foundation for the Prevention of Domestic Violence, Inc. The property was appraised by Lynn Cable and was valued at $76,000. After negotiations, and due to the need to expedite the acquisition process in order to accommodate the proposed construction schedule, the City agreed to pay $95,000.
The property is zoned RM-18 (Residential Multi-family). The required right-of-way purchase requires a total take of the property, which includes 9,583 Sq. Ft. or 0.22 acres, and a 1,773 Sq. Ft. residential building and detached garage.
BUDGET IMPACT:
Funding in the amount of $95,000 for this purchase is budgeted in Account:
2008 GDOT Bond Fund 471-4503-02.6012 A18052
RECOMMENDATION / ACTION REQUESTED:
The Property Management Section of the Engineering & Inspections Department and the Department of Transportation recommend the approval of this purchase.