Title
Authorization to Sell Unimproved City-Owned Property Located at Southeast Corner of 25th Avenue and Peoria Avenue (Ordinance S-43995)
Description
Request to authorize the City Manager, or his designee, to sell City-owned property located at the southeast corner of 25th Avenue and Peoria Avenue identified as excess real property inventory. Further request authorization for the City Treasurer to accept all funds related to this item.
Report
Summary
The excess property to be sold is an unimproved portion of Rose Mofford Park that is approximately 211,839 square feet in size and zoned A-1 (light industrial). The property will be advertised on the open market by a City-contracted broker at a market value to be determined by an appraisal, broker's opinion of value or other valuation method accepted by the City. Further request authorization to negotiate with the offeror(s) in order to yield the highest dollar return to the City, as deemed acceptable by the City Manager or his designee. The City Manager, or designee, will select the highest responsive and responsible offer for the property based upon market value and enter into an agreement for the purchase and sale of City-owned property, containing terms and conditions deemed necessary and appropriate by the City. The subsequent fee simple conveyance will be by special warranty deed. Funds from the sale will be placed in the 3PI funds for the Parks and Recreation Department.
Concurrence/Previous Council Action
The Parks and Recreation Board approved the land disposition on Oct. 27, 2016 by a vote of 4-0. The Parks, Arts, Education and Equality Subcommittee recommended City Council approval of this item on Nov. 30, 2016 by a vote of 4-0.
Location
Southeast corner of 25th Avenue and Peoria Avenue, identified by assessor parcel number 149-09-007C (portion).
Council District: 3
Department
Responsible Department
This item is submitted by Deputy City Manager Deanna Jonovich and the Parks and Recreation and Finance departments.