Title
Resolution Authorizing the Purchase of Property Located at 1300 Bridford Parkway from MFM Properties, LLC, RSF Properties of NC, LLC, and Tadmore Property Management, LLC in the Amount of $92,352 for the Hilltop Sewer Improvements Project, P05729-07
Body
Council Priority: Maintain Infrastructure and Provide Sustainable Growth Opportunities
Department: Engineering & Inspections
Council District: 5
Public Hearing: N/A
Advertising Date/By: N/A
Contact 1 and Phone: Mike Borchers, 373-2494
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 temporary construction and permanent utility easements for the Hilltop Sewer Improvements Project. City Council approval is requested for the purchase of this property.
BACKGROUND:
The Water Resources Department has approved the Hilltop Sewer Improvement Project. The existing Hilltop Road Lift Station is at capacity and future growth will require improvements to the station. This project includes relocating the existing pump station to intercept City of Greensboro wastewater that is ultimately treated by the City of High Point. The project entails upgrading the force main and upstream and downstream sewer outfalls.
The subject property is located at 1300 Bridford Parkway, parcel #0074722. This property is owned by MFM Properties, LLC, RSF Properties, LLC, and Tadmore Property Management, LLC. The portion of property to be purchased was appraised by Foster Appraisal Services, Inc. and was valued at $76,960. The owner has agreed to accept the negotiated value of $92,352.
The property is zoned CD-C-H (Conditional District Commercial-High). The required Permanent Utility Easement acquisition is an area of 4,565 Sq. Ft. (.10 acre). The required Temporary Construction Easement acquisition is an area of 6,085 Sq. Ft. (.14 acre).
BUDGET IMPACT:
Funding in the amount of $92,352 for this purchase is budgeted in the Water Resources Capital Improvement Fund account 503-7029-02.6012 A20050. A budget adjustment is needed to use this account.
RECOMMENDATION / ACTION REQUESTED:
The Property Management Section of the Engineering and Inspections Department recommends the approval of this purchase and the associated budget adjustment.