Agenda Item # 4
Columbus Consolidated Government
Council Meeting
October 13, 2009
Agenda Report # 434
TO: Mayor and Council
SUBJECT: Amendment of Resolution 241-08
INITIATED BY: Department of Community Reinvestment
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Recommendation: Approval is requested to amend Resolution #241-08 to reduce
the repurchase price of the property to $50,000.
Background: The Cora Drive Storm Sewer Replacement Project replaced a portion
of the storm sewer pipe in the Cora Drive area. The project consisted of the
purchase of three homes, demolition of the three homes, removal and replacement
of the storm sewer. As part of the sales contract, the sellers of the property
have option to repurchase their property.
Analysis: Through good faith negotiations, the City and owner have agreed
upon a fair and equitable price for the property. Based upon appraised values
from both parties, the property located at 3404 Clubview was purchased for
$285,000. Also through negotiation, the seller agreed upon a 90-day option to
repurchase the property for $75,000 upon completion of the project. The seller
of this property negotiated in good faith and was the first to agree to term to
sale his property with a repurchase price of $75,000. The other two sellers of
their property negotiated for a longer period of time and a lower repurchase
price for their property. It has been determined that due to comparable size
of the lots of the other two property owners that it would be fair and
equitable for the repurchase price of the property at 3404 Clubview be reduced
to $50,000.
Financial Considerations: The City will receive $50,000 from the disposal of
the property per the sales contract.
Legal Considerations: The amendment of contract requires Council approval.
Recommendations/ Actions: Approve a Resolution to amend Resolution #241-08 to
reduce the repurchase price of the property to $50,000.
A RESOLUTION
A RESOLUTION AMENDING RESOLUTION #241-08 TO REDUCE THE REPURCHASE PRICE OF THE
PROPERTY TO $50,000.
WHEREAS; 3404 Clubview Drive a/k/a Tax Map Parcel 068 011 003 was purchased as
part of the Cora Drive Storm Sewer Replacement Project; and,
WHEREAS, it was purchased for the price of $285,000; and,
WHEREAS, the Cora Drive Storm Sewer Replacement Project is complete; and,
WHEREAS, the Seller has a 90-day option to repurchase the property for
$75,000 upon completion of the project; and,
WHEREAS, it has been determined the repurchase price of $50,000 is fair
and equitable; and,
WHEREAS, it is in the best interest of the Consolidated Government of Columbus,
Georgia to dispose of the property; and,
NOW, THEREFORE, THE COUNCIL OF COLUMBUS, GEORGIA, HEREBY RESOLVES AS FOLLOWS:
That Resolution #241-08 is hereby amended reducing the repurchase price to
$50,000.
Introduced at a regular meeting of the Council of Columbus, Georgia,
held the _________day of _____________, 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 Turner Pugh voting __________.
Councilor Woodson voting __________.
_______________________________ ____________________________
Tiny B. Washington, Clerk of Council Jim Wetherington, Mayor
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