Acquisition of Property at River Mill Tax Map Numbers 008 008 004, 008 008 007 and 008 008 006.
Initiator
Amy Carbajal, Community Reinvestment Director
Recommendation
Approve the Acquisition of property at River Mill that will enable construction \n \n of a missing portion of the Riverwalk The acquisition price is $598,819. (See \n \n attached map indicating properties to be purchased in yellow and green).
Approval
Pending
Background
At the end of calendar year 2012, Upown, Inc. purchased property located along
the Riverwalk at River Mill in order to assist the City in making a timely
transaction. The pledge was made to Uptown, that the City would purchase the
property within the first quarter of 2013. Staff is prepared to purchase that
property from Uptown utilizing ________ as a funding source. This portion of
river front property is essential to completing un-impeded access to the
Riverwalk.
Analysis
It is in the best intrest of the City to complete the Riverwalk connection and
to maintain a positive working relationship with Uptown, Inc.
Financial Considerations
Projected Annual Fiscal Impact Statement
Legal Considerations
Council must approve all property acquisitions.
Recommendations/ Actions
Approve the Acquisition of property along the River Walk that will enable
construction of a missing portion of the Riverwalk.