Title
Resolution Authorizing Sale of City Property to Oakley Capital, LLC
Body
Department: Legal
Council District: 3
Public Hearing: NA
Advertising Date/By: NA
Contact 1 and Phone: Tom Carruthers, Interim City Attorney, ext 2320
Contact 2 and Phone: Kathi Dubel, Manager-Economic Development, ext 4579
PURPOSE: To sell the parcel located at 229 North Greene Street, county parcel # 0221128, to Oakley Capital LLC.
BACKGROUND: This approximate 2,520 square foot parcel is a remnant of road right of way left after the City re-routed Battleground Avenue away from the intersection of Greene and Bellemeade. This parcel is crossed by water and sewer easements that consume 1,236 square feet. The City is retaining all rights to these water and sewer easements and will prevent construction within these areas in the future. Section 4.124 of the Greensboro City Charter permits the City Council to authorize sale of this property if Council determines the public interest of the City will best be served by the combination of this property with an adjacent property in order to promote a more orderly and coordinated system of development for a price determined by a competent and disinterested appraisal.
The appraised value of this parcel is $3,500. The adjacent parcel is also owned by Oakley Capital, LLC the developer of a renovation project located at 301 Battleground Avenue.
BUDGET IMPACT: The proceeds of this sale will be deposited into the following revenue account: Account No. 101-0000-00.8616.
RECOMMENDATION / ACTION REQUESTED: That City Council approve and authorize the sale of the parcel located 229 North Greene Street pursuant to City Charter Section 4.124, subject to the existing easements of record, to Oakley Capital, LLC for the sum of $3,500.