Agenda Item # ____2____
Columbus Consolidated Government
Council Meeting
September 18, 2007
Agenda Report #__196
TO: Mayor and Councilors
SUBJECT: Warranty Deed ? River Mill, LLC
INITIATED BY: Community Reinvestment Department
___________________________________________________________________________
Recommendation: Approval is requested to execute a Warranty Deed to River
Mill, LLC, a Georgia Limited Liability Company f/k/a River Mill Village, LLC,
pursuant to the option agreement for sale and purchase of real property dated
May 3, 1999.
Background: On May 3, 1999, the Town of Bibb City entered in an option
agreement for the sale and purchase of real property with River Mill, LLC. (see
attached). The agreement was for the sale and purchase of a parcel of property
containing 4.417 acres with a purchase price of $20,000. Pursuant to Georgia
House Bill 205, the City of Columbus assumed all assets, liabilities and
obligations of the Town of Bibb City. Those obligations of Bibb City included
this option to sale and purchase property.
Analysis: River Mill, LLC. has exercised the option to purchase this property
for $20,000. The City is bound by the option agreement and has no known use
for the property at this time.
Financial Considerations: The $20,000 received from the sale of this property
will be returned to the General Fund CIP Acquisition of Property Account to be
used for future land acquisitions.
Legal Considerations: The City is obligated by the option agreement to sale
the property for $20,000.
Recommendation: Approval is requested to execute a warranty deed to River
Mill, LLC, a Georgia Limited Liability Company f/k/a River Mill Village, LLC.
A RESOLUTION
NO._____
A RESOLUTION AUTHORIZING A WARRANTY DEED TO RIVER MILL, LLC, A GEORGIA
LIMITED LIABILITY COMPANY F/K/A RIVER MILL VILLAGE, LLC, PURSUANT TO THE OPTION
AGREEMENT FOR THE SALE AND PURCHASE OF REAL PROPERTY DATED MAY 3, 1999.
WHEREAS, The Town of Bibb City was obligated to convey the property
described as ??PARCEL ?X? 4.417 ACRES? in Columbus, Muscogee County, Georgia,
in the above described Option (the ?Property?) to River Mill, LLC, a Georgia
limited liability company, f/k/a River Mill Village, LLC (?RIVER MILL?); and,
WHEREAS, Columbus, Georgia, succeeded to certain assets and assumed the
liabilities and obligations of The Town of Bibb City, Georgia pursuant to
Georgia House Bill NO. 205, Act. No. 36, including the property subject to the
option; and,
WHEREAS, RIVER MILL has exercised its option to purchase the Property
for the purchase price of $20,000 as agreed upon in the Option; and,
WHEREAS, Columbus must fulfill its obligations under the option
agreement.
NOW, THEREFORE, THE COUNCIL OF COLUMBUS, GEORGIA HEREBY RESOLVES:
1. That the City Manager is hereby authorized to execute the warranty
deed conveying to RIVER MILL, LLC, the ?Property?, pursuant to the terms of the
Option, for the purchase price of $20,000.
2. That the execution of the warranty deed is contingent upon the City
retaining all access rights to the Riverwalk.
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Introduced at a regular meeting of the Council of Columbus, Georgia,
held the ______ day of September, 2007 and adopted at said meeting by the
affirmative vote of _______ members of said Council.
Councilor Allen voting ______________________
Councilor Anthony voting ______________________
Councilor Baker voting ______________________
Councilor Barnes voting ______________________
Councilor Davis voting ______________________
Councilor Henderson voting ______________________
Councilor Hunter voting ______________________
Councilor McDaniel voting ______________________
Councilor Pugh Voting ______________________
Councilor Woodson voting ______________________
____________________________ ____________________________
Tiny B.Washington, Clerk of Council Jim Wetherington , Mayor
Attachments