Title
Resolution Authorizing the Conveyance of City Property Located at 3113 Henry Street
Body
Department: Engineering & Inspections
Council District: 3
Public Hearing: N/A
Advertising Date/By: N/A
Contact 1 and Phone: Ted Partrick, 373-2308
Contact 2 and Phone: Wade Walcutt, 373-2964
PURPOSE:
The Property Management Section of the Engineering & Inspections Department is in the process of selling surplus property located at 3113 Henry Street (Guilford County parcel #0044431) to KRC Greensboro Limited Partnership, which owns and operates the Abbottswood Retirement Community adjacent to the parcel. City Council approval is requested to proceed with the sale to the adjacent property owner.
BACKGROUND:
The property was recently appraised by D. Lynn Cable, an independent appraiser, with a value of $56,000 per acre for a total of $392,000. The appraised value of $392,000 was accepted by the buyer. Property Management reviewed the appraisal and has determined that this offer is in line with the current values for this area and should be accepted. The sale is in accordance with Section 4:124 of the City Code of Ordinances, "Sale or exchange of excess property".
The property was acquired in 1981 from Cone Mills for park use purposes. It has been determined that there is no municipal need for the entire parcel. The property lot size is approximately 9.972 acres, from which 7.004 acres would be subdivided and sold. The subdivision plat will include a 15 foot public access easement to the City from Fawcett Street and Calvert Street to the Henry Street Park. The property is currently zoned R5, Residential, and the sale is contingent on successful rezoning to CD-RM12, Residential Multifamily, for the use of an assisted living facility.
Several meetings with adjacent neighborhood associations resulted in majority approval of the sale on the condition that the proceeds will be used for improvements to the Henry Street Park. The underut...
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