Title
Resolution Authorizing the Purchase of Property Located at 2525 #6 East Market Street from ITG Brands, LLC for the English Street Sidewalk Project
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 Kallam, 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 English Street Sidewalk Project. City Council approval is requested for the purchase of this property.
BACKGROUND:
The Greensboro Department of Transportation has approved the English Street Sidewalk Project. The main purpose of the project is to provide pedestrians with a safe route along English Street, connecting existing sidewalks from East Market Street to the Phillips Avenue Intersection.
The subject property is located at 2525 #6 E. Market Street, parcel #0021080. This property is owned by ITG Brands, LLC. The portion of property to be purchased was appraised by D. Lynn Cable, MAI Appraisals and was valued at $19,350. The owner has agreed to accept the appraised value of $19,350.
The property is zoned HI (Heavy Industrial). The required Right of Way Margin Acquisition is an area of 13,320 Sq. Ft. (.30 acre). The Permanent Slope Easement acquisition is an area of 949 Sq. Ft. (.022 acre). The required Temporary Construction Easement acquisition is an area of 19,595 Sq. Ft. (.45 acre).
BUDGET IMPACT:
Funding in the amount of $19,350 for this purchase is budgeted in the Street and Sidewalk Capital Project Fund, Sidewalk Improvement EL-5101 DL Account #401-4546-01.6012, Activity #A15138.
RECOMMENDATION / ACTION REQUESTED:
The Property Management Section of the Engineering and Inspections Department recommends the approval of this purchase.