To

Mayor and Council

Subject

Acquisition of Land (Riverside, Short and 26th)

Initiator

City Manager?s Office

Recommendation

Approve the attached Resolution for the acquisition of five parcels of land \n \n consisting of the following properties 2501 Riverside Avenue, 2601 Short \n \n Avenue, 2607 Short Avenue, 2608 Short Avenue and 2 26th Street as identified on \n \n Tax Map Parcels 007-011-016, 007-012-027, 028 and 029, also 007-013-003 (see \n \n attached maps).

Approval

Approved

Background

The City has acquired property adjacent to the above-described property for

future development. Purchasing these parcels will continue the assembling of a

three block area. It has been determined it would be in the best interest of

the City to acquire said property. The City through due diligence has

determined the amount requested by the seller is considered to be within the

realm of Fair Market Value.

Analysis

The properties consist of 5 parcels (see attached maps). The subject properties

are zoned R-4, and is adjacent to property owned by the City.

Financial Considerations

The value of the properties is determined to be $141,500.00. A Deed will

transfer the properties with all encumbrances and liens being paid by the

seller.

Projected Annual Fiscal Impact Statement

Legal Considerations

Council must approve the acceptance of real estate. The properties will be

transferred by Deed with the Superior Court Clerk for permanent record.

Recommendations/ Actions

Approve the attached Resolution approving the purchase of the above-identified

property.

No attachments for this document.