Title
Resolution Authorizing the Purchase of Property Located at 1200 Grecade Street from Graybar Electric Company Inc. in the Amount of $42,625, for the Bessemer Avenue West Sidewalk, Project P-05695
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: Kenney McDowell, 336-373-2302
Contact 2 and Phone: Ted Kallam, 336-373-2302
PURPOSE:
The Property Management Section of the Engineering and Inspections Department is in the process of purchasing right of way and easements for the Bessemer Avenue West Sidewalk Project. City Council approval is requested for the purchase of this property.
BACKGROUND:
The Greensboro Department of Transportation has approved the Bessemer Avenue West Sidewalk Project. The main purpose of the project is to provide pedestrians with a safe route along Bessemer Avenue West, connecting existing sidewalks to Grecade Street.
The subject property is located at 1200 Grecade Street, parcel #0006798. This property is owned by Graybar Electric Company Inc. The portion of property to be purchased was appraised by Laura Mallory of McNairy & Associates and was valued at $38,625. The owner has agreed to accept $42,625.
The property is zoned LI (Light Industrial). The required Proposed Margin Taking purchase is an area of 2,450 Sq. Ft. (.056 acre). The required Temporary Construction Easement purchase is an area of 5,885 Sq. Ft. (.14 acre).
BUDGET IMPACT:
Funding in the amount of $42,625 for this purchase is budgeted in the Transportation Bond Fund, Account #471-4502-15.6012, Activity #A11171.
RECOMMENDATION / ACTION REQUESTED:
The Property Management Section of the Engineering and Inspections Department recommends the approval of this purchase.