Title
Resolution Authorizing the Sale of Surplus Property Located at 2020 Near Sixteenth 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 373-2302
PURPOSE:
The Property Management Section of the Engineering and Inspections Department has been asked to sell a portion of surplus land consisting of open space at 2020 near Sixteenth Street (parcel #0055996) to an adjoining owner. City Council approval is requested to proceed with this transaction.
BACKGROUND:
DBH Investments has a plan to expand the business at 2200 Sixteenth Street. City staff and DBH have negotiated the sale of a portion of an adjacent City property owned by the Water Resources Department.
The subject City property (parcel #0055996) was acquired in 1997 for the purpose of providing a Flood Plain and Open Space area adjacent to the North Buffalo Water Reclamation Facility. The total property area is 11.04 acres and is zoned C-H (Commercial-High). The total area of the property to be sold to DBH Investments is approximately 50,137 Sq. Ft., (1.151 acres). As part of the sales transaction, DBH Investments will dedicate (by plat) a Permanent Sanitary Sewer Easement of 9,173 Sq. Ft., (0.21 acre). It has been determined that there is no municipal need for this portion of the property.
The sale is in accordance with Section 4:124 of the City Code of Ordinances, "Sale or Exchange of Excess Property". The City property to be sold was appraised by W. Michael Scarbrough of South Atlantic Appraisal Group, LLC with a value of $71,500. DBH Investments has agreed to purchase the property for $64,525 after negotiations with the City. The accepted sales price surpasses the Department's policy requiring sales prices to be at least 90% of the appraised value of properties.
BUDGET IMPACT:
The proceeds of this sale will be deposited in ...
Click here for full text