Title
Resolution Rescinding Resolution No. 124-17 Authorizing the Purchase of Property Located at 5450 Millstream Road from Previous Owner, Resnick in North Carolina, LP, and Authorizing the Purchase of Property Located at 5450 Millstream Road from LB-UBS 2007-C2 Millstream Road, LLC, a Delaware Limited Liability Company, for the Stewart Mill Force Main Sewer Line Project
Body
Department: Engineering & Inspections
Council District: 1
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 & Inspections Department is in the process of purchasing temporary construction and permanent utility easements for the Stewart Mill Force Main Sewer Line. City Council approval was given on June 6, 2018 while the property was owned by Resnick in North Carolina, LP. The property was foreclosed on before a deed could be recorded. City Council approval is requested to rescind their resolution approving the sale of property previously owned by Resnick in North Carolina LP and authorize the sale to the current owner LB-UBS 2007-C2 Millstream Road, LLC, a Delaware Limited Liability Company.
BACKGROUND:
The Water Resources Department has approved the Stewart Mill Force Main Sewer Line Project. The main purpose of the project is to divert waste water flows going to the existing Rock Creek Lift Station in order to free up pumping capacity, and to provide service to the large drainage area (10,565 acres) that is contiguous to the new lift station. This project is also designed to open up additional development in the Eastern part of the county for more economic development opportunities.
The subject property is located at 5450 Millstream Road, parcel #0084849. This property is owned by LB-UBS 2007-C2 Millstream Road, LLC, a Delaware Limited Liability Company. The portion of property to be purchased was appraised by Harold Messick, of Mes...
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