Title
Sale of City-Owned Property on Starwood Avenue
Action
Action:
A. Adopt a resolution approving the sale of 0.6 acres of city-owned property on Starwood Avenue (parcel identification numbers 105-271-74 and 105-271-75) to A-Plus Realty Inc., for $20,000, and
B. Authorize the City Manager to negotiate and execute all documents necessary to complete the sale of the property.
Body
Staff Resource(s):
Phil Reiger, General Services
Tony Korolos, General Services
Ron Hargrove, Charlotte Water
Pamela Wideman, Housing and Neighborhood Services
Explanation
§ On August 27, 2018, City Council adopted the Housing Charlotte Framework, which recommends leveraging city-owned land and expanding the supply of high-quality affordable housing by building new affordable housing and preserving existing affordable housing.
§ These city-owned properties along Starwood Avenue are approximately 0.6 acres, located in Council District 4, and zoned R-3 (residential). The parcels are no longer needed by the city and were part of the Willow Creek Wastewater Treatment Plant.
§ A-Plus Realty Inc., a private builder, proposes to purchase the properties to construct two single family residential homes. One of the homes will be sold to a House Charlotte eligible household with a long-term (15-year) affordability deed restriction. A-Plus Realty Inc. agrees that the affordable unit shall be developed within three years of the date of the deed conveying the property to the buyer.
§ The Planning Commission reviewed the property for surplus sale in March 2017 and supported the sale of the vacant lot with no additional comments.
§ The property was appraised January 17, 2020, for $26,000.
§ The offer from A-Plus Realty Inc. includes the following terms:
- Price of $20,000,
- Due diligence period of 60 days, and
- Closing to occur within 30 days after the expiration of the due diligence period.
§ This transaction is consistent with the Council-adopted City-Owned Real Estate and Facilities Policy and Guidelines for Evaluation and Disposition of City Owned Land for Affordable Housing.
Fiscal Note
Funding: Proceeds from the sale will be deposited in Charlotte Water’s revenue funds
Attachments
Attachment(s)
Map
Resolution