Title
Resolution Authorizing Purchase of a Portion of Property Located at 5804 Near West Market Street for the West Market/College Road Intersection and Sidewalk Improvement Project
Body
Department: Engineering & Inspections
Council District: 5
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 & Inspections Department is in the process of acquiring right of way and easements for the West Market Street/College Road Intersection and Sidewalk Project. City Council approval is requested for this acquisition.
BACKGROUND:
The Transportation Department has approved Roadway Intersection and Sidewalk Improvement on West Market Street and College Road with construction beginning in 2016. This project will improve the roadway intersection for better traffic flow and improve pedestrian walkways.
The subject property is located at 5804 near West Market Street, parcel #0075717. This portion of property is owned by Guilford Market Corner Owners Association. The property was appraised and valued by Tonya Brady of McNairy & Associate at $47,512. The property has a water quality pond that must be moved, which will disrupt development of other adjacent properties under the same ownership. After negotiations, the owners have agreed to accept $51,974.
The property is zoned C-M (Commercial Medium). The required right of way acquisition is an area of 669 Sq. Ft. (0.02 acre). Permanent Slope Easements are 2,239 Sq. Ft. (0.05 acre), and a Temporary Construction Easement is 12,113 Sq. Ft. (0.28 acre).
BUDGET IMPACT:
Funding in the amount of $51,974 for this acquisition is budgeted in Account #401-4547-01.6012, Activity #A11168.
RECOMMENDATION / ACTION REQUESTED:
The Property Management Section of the Engineering & Inspections Department recommends approval of this acquisition.
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