Agenda Item # 2
Columbus Consolidated Government
Council Meeting
08/14/2012
Agenda Report # 085
TO: Mayor and Council
SUBJECT: Acquisition of Property, Enterprise Zone ? 3607 Wade Street
INITIATED BY: Department of Community Reinvestment
Recommendation: Approval is requested to purchase the following parcel:
3607 Wade Street, Wade Street Apartments representing 1.4 acres (see attached
map) for continued redevelopment of the Enterprise Zone.
Appraised Offer
TM 064 019 008 Wade Street Apts ? Gayle Head $126,000.00 $112,000.00
1999 SPLOST
Enterprise Zone Fund
Background: The Wade Street Apartments were identified by the
Neighborhood Stabilization Committee as substandard and in need of
redevelopment. It is located in the Enterprise Zone.
Analysis: The Wade Street Apartments site is needed for continued
redevelopment of the Enterprise Zone.
Financial Considerations: The balance of the Enterprise Zone Fund is
$769,892.32. The balance after the purchase of Wade Street Apartments will be
$657,892.32.
Projected Annual Fiscal Impact Statement: This property is being purchased for
redevelopment of the Enterprise Zone. The City will demolish the structures
and maintain the property until it is redeveloped by a not-for profit
affordable housing developer. Demolition estimates have not yet been obtained.
Legal Considerations: Council must approve the purchase of real estate.
Recommendations/ Actions: Approval is requested of the attached resolution
authorizing the purchase of said property as listed therein.
A RESOLUTION
NO. _____
A RESOLUTION AUTHORIZING THE PURCHASE OF PROPERTY AT 3607 WADE STREET, IN
COLUMBUS, MUSCOGEE COUNTY, GEORGIA.
WHEREAS, the property is located in the Enterprise Zone; and,
WHEREAS, it has been determined that the price of each property as shown in
the chart below is fair and equitable; and,
TM 064 019 008 Wade Street Apts ? Gayle Head $112,000.00
1999 SPLOST
Enterprise Zone Fund
WHEREAS, it is in the best interest of the Consolidated Government of Columbus,
Georgia to purchase said property; and,
WHEREAS, this property was identified by the Neighborhood Stabilization
Committee as being in need of redevelopment.
NOW, THEREFORE, THE COUNCIL OF COLUMBUS, GEORGIA, HEREBY RESOLVES AS FOLLOWS:
That the City Manager is hereby authorized to purchase the property as
listed in the chart herein. The purchase will be funded with Enterprise Zone
funds.
___________
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 Baker voting __________.
Councilor Barnes voting __________.
Councilor Davis voting __________.
Councilor Henderson voting __________.
Councilor Huff voting __________.
Councilor McDaniel voting __________.
Councilor Turner Pugh voting __________.
Councilor Thomas voting __________.
Councilor Woodson voting __________.
______________________________
_________________________
Tiny B. Washington, Clerk of Council , Mayor
Attachments