Title
Amend City Ordinance S-45743 for Sale of City Property (Ordinance S-47102)
Description
Request to authorize the City Manager, or his designee, to amend City Ordinance S-45743 for the sale of City property at 4405 E. Winslow Ave. to update the sales price to reflect the current Fair Market Value (FMV).
Report
Summary
On June 5, 2019 the Phoenix City Council approved City Ordinance S-45743 which authorized the sale of four parcels located at 4405 E. Winslow Ave. at FMV to two owners of adjacent parcels so they can expand their properties. The parcels were appraised at the FMV of $58,000 for the two western parcels, and $28,000 for the two eastern parcels. The sale of the properties was delayed by the Federal Aviation Administration (FAA), which is required to review all sales transactions conducted at the Airport. The FAA ultimately concluded that the sales could proceed. During the FAA review process, the original appraisals exceeded their useful life, which caused the need for new appraisals. The new appraisals concluded the current FMV for the parcels has increased to $90,000 for the western parcels, and $46,000 for the two eastern parcels.
Financial Impact
Sale of the properties will result in payment to the City of $136,000.
Concurrence/Previous Council Action
- The Aviation and Transportation Subcommittee recommended for approval the Sale of Four Parcels at 4405 E. Winslow Ave. on May 28, 2019, by a vote of 3-0.
- The City Council approved the Sale of Four Parcels at 4405 E. Winslow Ave. (Ordinance S-45743) on June 5, 2019.
Location
4405 East Winslow Ave.
Council District: 8
Department
Responsible Department
This item is submitted by Deputy City Manager Mario Paniagua and the Aviation Department.