Title
Authorization to Sell City-owned Real Property Identified as Excess Real Property Inventory (Ordinance S-49666)
Description
Request to authorize the City Manager, or his designee, to sell City-owned real property by sealed bid solicitation, to be offered to the two adjacent property owners. Should the City fail to receive a responsive and responsible bid, further requesting authorization to negotiate with the bidder whose bid most closely conforms with the elements of the bid solicitation, to yield the highest return in value to the City, as deemed acceptable by the City Manager or his designee. Additionally, request to authorize the City Treasurer to accept all funds related to this item.
Report
Summary
The excess real property is a 25-foot drainage way located between two residential properties, containing approximately 3,089 square feet. The parcel, originally used for drainage, is no longer needed by the Street Transportation Department because of the construction of the Loop 101 Freeway. The drainage way is not developable as a standalone parcel.
The City Manager, or his designee, will offer the property by sealed bid solicitation to the two adjacent property owners. The City will select the highest responsive and responsible offer for the real property, and will enter into a purchase agreement containing terms and conditions acceptable to the City. The subsequent fee simple conveyance will be by special warranty deed. The property will be sold "as-is" based on market value to be determined by an appraisal or other valuation method accepted by the Finance Department's Real Estate Division.
The property to be sold is identified by Maricopa County Assessor parcel number 213-25-790, identified as Tract B in the recorded plat, Maricopa County recording 267-20.
Financial Impact
Revenue will be reflective of market value.
Location
Along the north side of Escuda Drive, west of 12th Street.
Council District: 2
Department
Responsible Department
This item is submitted by Deputy City Manager Alan Stephenson and the Street Transportation and Finance departments.