To

Mayor and Council

Subject

Transfer of the Enrichment Services Program, Inc.

Initiator

City Manager's Office

Recommendation

Enrichment Services Program, Inc. (ESP, Inc.) has requested the City transfer \n \n to them 4.2 +/- Acres of CDBG property at 2012 Cusseta Road a/k/a 040-025-001. \n \n The transfer of this property will allow ESP, Inc. to receive a grant for \n \n construction of a new building to replace the facilities they currently \n \n occupy, located on Linwood Blvd and Buena Vista Road.

Approval

Approved

Background

ESP, Inc. would like to move from the facilities where they are currently

located on Linwood Blvd. and Buena Vista Road and request the City transfer the

land on Cusseta Road, a/k/a 040-025-001. The current buildings are no longer

sufficient to meet the needs of ESP, Inc. The current buildings are in bad

repair and rehabilitation is not cost effective. The property will be

transferred to ESP, Inc. with the understanding that should the property no

longer be used for Enrichment Service's purposes, then the property will revert

back to the City. Also, the Security Deed will provide a provision that should

the property be sold the City will receive the appraised FMV for the land at

the time of sale.

Analysis

The transfer of the Cusseta Road property will allow ESP, Inc. to receive a

grant for the construction of a new facility on the Cusseta Road property, the

grant requires the applicant have "site control" of the property.

Financial Considerations

The current fair market value of the property is $140,875.00. The receipt of

funds by the City will be deferred until the sale of the property.

Projected Annual Fiscal Impact Statement

Legal Considerations

Council must approve the transfer of the Cusseta Road property and the

deferment of purchase funds.

Recommendations/ Actions

Approve the attached Resolution approving the transfer of CDBG property to ESP,

Inc. to construct and occupy a new facility and deferrer payment on the

property until the transfer of title of said property.

No attachments for this document.