To

Mayor and Council

Subject

Bay Avenue - Declare Surplus/Accept & Transfer Property

Initiator

City Manager's Office

Recommendation

Approval is requested to accept 2.424 +/- acres of property from the Columbus \n \n Building Authority and accept .266 acres from Georgia Power and Light Company \n \n and declare 3.475 acres +/- of property (which includes the 2.424 +/- acres \n \n from the Columbus Building Authority and .266 acres from Georgia Power and \n \n Light and property presviously declared as suplus (Bay Avenue)) as described \n \n "Survey of City Lots 1,2 & Part of 3, Part of Water Lots 34, 35, 36 and 37, as \n \n surplus and transfer said property to Foundation Properties, Inc., for the \n \n development of the uptown campus for Columbus State University campus on Bay \n \n Avenue, between Dillingham and 10th Street, Columbus, Muscogee County, Georgia \n \n (see attached plat).

Approval

Approved

Background

In June of 1992, a portion of the above described property was transferred to

the Columbus Building Authority to obtain Columbus Building Authority Revenue

Bonds Series 1992 in the amount of $3,715,000. The funds were used to finance

the construction and equipping of a portion of the River Walk. The Building

Authority will transfer the 2.424+/- acres property into the City of Columbus.

Georgia Power and Light will transfer .266 acres +/- to the City of Columbus.

The City of Columbus will transfer the property to Foundation Properties,

Inc. Columbus State University, will develop the Uptown Campus that will be

located between Front Avenue and the River Walk and also between Dillingham

Street and 10th Street. The property consist of 3.475 acres +/- (see attached

map).

Analysis

The property is needed by Columbus State University for development of the

Uptown Campus. This transfer is considered to be in the public interest of the

Consolidated Government of Columbus, Georgia.

Financial Considerations

The property will be transferred by Quit Claim Deed.

Projected Annual Fiscal Impact Statement

Legal Considerations

Council must approve the transfer of property to another Government Entity,

said transfer shall be published in a local newspaper in accordance with

Columbus Charter Section 7-501.

Recommendations/ Actions

Declare the property as surplus; authorize the City Manager to accept said

property from the Columbus Building Authority and Georgia Power and light; and

transfer said property to Foundation Properties, Inc. with a reversionary

clause.

No attachments for this document.