Title
Resolution Authorizing the Purchase of Property Located at 429 Bellemeade Street from Bellemeade Law Properties, LLC., in the Amount of $45,000, for the Eugene Street Parking Deck
Body
Council Priority: Maintain Infrastructure and Provide Sustainable Growth Opportunities
Department: Engineering & Inspections
Council District: 3
Public Hearing: N/A
Advertising Date/By: N/A
Contact 1 and Phone: Chris Spencer, 433-7218
Contact 2 and Phone: Kenney McDowell, 373-2302
PURPOSE:
The Property Management Section of the Engineering and Inspections Department is in the process of purchasing right of way and easements for the Eugene Street Parking Deck. City Council approval is requested for the purchase of this property.
BACKGROUND:
The Greensboro Department of Transportation has approved the Eugene Street Parking Deck. The main purpose of the project is to provide additional parking to provide for the public.
The subject property is located at 429 Bellemeade Street, parcel #0001798. This property is owned by Bellemeade Law Properties, LLC. The portion of property to be purchased was valued at $43,478, based on the tax value of the property. The owner has agreed to accept $45,000.
The property is zoned CB (Central Business). The required Temporary Construction Easement to be purchased is an area of 8,361 Sq. Ft. (.19 acre). The expected work is to provide additional structural support to the existing retaining wall.
BUDGET IMPACT:
Funding in the amount of $45,000 for this purchase will come from Parking Facilities Bond Fund, Account #546-4520-01.6011 A19077. A budget adjustment is needed to move funds to the appropriate account.
RECOMMENDATION / ACTION REQUESTED:
The Property Management Section of the Engineering and Inspections Department recommends the approval of this purchase.