Title
Authorization to Sell City-Owned Property Identified as Excess Real Property Inventory (Ordinance S-52634) - District 6
Description
Request to authorize the City Manager, or his designee, to sell four City-owned parcels identified by the Water Services Department as excess real property inventory by special warranty deed. Further request to authorize the City Treasurer to accept all funds related to this item.
Report
Summary
The property to be sold consists of four Maricopa County assessor parcel numbers, containing an aggregate of approximately 2.78 acres, located in Council District 6. The parcels are no longer needed by the Department for infrastructure purposes, and the above-ground water tank previously located on one of the parcels has been removed. Funds from the sale will be used for future Water Services Department projects.
The properties will be advertised on the open market as one offering through a City contracted broker at market value to be determined by an appraisal or other valuation method accepted by the Finance Department, Real Estate Division. The City Manager, or his designee, will select the highest responsive and responsible offer for the properties 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. Further requesting 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 subsequent fee simple conveyance will be by special warranty deed.
Financial Impact
Revenue will be reflective of the cumulative market value achieved through the sale.
Location
Physical address: 16428 S. 28th Street Phoenix, AZ 85048.
Parcels are identified by Maricopa County Assessors parcel numbers 301-70-011B, 301-70-012P, 301-70-012R and a portion of 301-70-012U.
Council District: District 6
Department
Responsible Department
This item is submitted by Assistant City Manager Ginger Spencer and the Water Services and Finance departments.