LEGISLATIVE ACTION ITEM
SPONSOR: Ashton J. Hayward, III, Mayor
SUBJECT:
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DECLARATION OF SURPLUS PROPERTY AND METHOD OF DISPOSITION FOR 300 BLOCK HILARY STREET
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RECOMMENDATION:
recommendation
That City Council declare the City-owned unimproved real property located at 300 Block Hilary Street, Parcel Identification Number 000S009070041055, Account Number 152240000 as surplus and authorize its disposition using the direct negotiation option.
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HEARING REQUIRED: No Hearing Required
SUMMARY:
The unimproved property located at 300 Block Hilary has been identified as available for disposal. The City acquired title to the property through Quit Claim Deed on March 15, 1998 as recorded in Deed Book 4338 at page 0855 of the public records of Escambia County. The parcel is approximately 0.1993 acres and is zoned C-2/ C-2A.
If City Council approves the disposition, an appraisal will be ordered. Using the appraised market value, city staff will negotiate the sale of the parcel with Segen Ventures, LLC. The negotiated sales contract will be presented to City Council for final approval.
In accordance with the City Council Policy for Disposition of Surplus Property, Direct Negotiation Option, a public notice was sent to property owners within a 300 ft radius of the parcel on August 17, 2017 notifying them that the City Council may consider the surplus and disposition through direct negotiation of the Hilary Street parcel at the City Council meeting on September 14, 2017.
PRIOR ACTION:
None
FUNDING:
N/A
FINANCIAL IMPACT:
Costs associated with the sale of the property such as appraisals and closing costs will be reimbursed from the proceeds of the property sale. Additionally, the City will benefit from future ad valorem tax revenue resulting from development of the property.
CITY ATTORNEY REVIEW: Yes
5/26/2017
STAFF CONTACT:
Eric W. Olson, City Administrator
Rebecca Ferguson, Economic Policy Coordinator
ATTACHMENTS:
1) Parcel Map - 300 Block Hilary Street
2) Escambia County Property Appraiser Parcel Information - 300 Block Hilary Street
3) Corporation Quit Claim Deed - 300 Block Hilary Street
PRESENTATION: No end