Columbus Consolidated Government
Council Memorandum
TO: Mayor and Councilors DATE: August 11, 2006
FROM: Isaiah Hugley, City Manager SUBJECT: Property Updates
_______________________________________________________________________
Below for your information is an update on two pieces of property, Wrenn
Property on South Lumpkin Road and Warren Avenue.
Wrenn Property Update:
We have closed on the Wrenn Property on south Lumpkin Road
Councilor Mimi Woodson, Lynnette Gross and I will meet with the tenants on
Tuesday, August 15, 2006 to provided leases that provide for the following
provisions:
Lease is for a one (1) year with rent waived in lieu of relocation assistance.
Tenant will be responsible for all repairs and maintenance to the building.
Tenants must vacate the property at the end of the lease term
City will demo the properties.
Warren Avenue:
Representatives from the YMCA approached the City with a request for the City
to deed the property/street known as Warren Avenue (from the intersection of
Broadway to the intersection of 14th Street).
City Attorney advises pursuant to Columbus Charter Section 7-501 that the
property must be declared surplus and cannot be gifted to a private entity. It
must be advertised for bid and sold or exchanged for a property of similar
value.
The property consist of approximately 15,858 square feet.
In 2001 we sold property across the street that was appraised at $10.00 a
square feet. If we add a 2% per year inflation factor, the property would be
appraised at $10.60 per square feet or $168,094.80 (price could be adjusted
based on functional obsolescence, use to adjacent property owners, future use
to the City, etc.).
Please let me know if you have concerns about how we will proceed with these
two property issues and/or if you need any additional information at
706-225-3102.
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