Title
Upset Bid Process for City-Owned Property on East 27th Street
Action
Action:
A. Adopt a resolution authorizing Upset Bid Process for a portion of land containing approximately 0.065 acres from the 0.180-acre city-owned parcel (parcel identification number 083-051-09) located near North Brevard Street, Charlotte, North Carolina, and
B. Direct the City Clerk to cause a notice of the proposed sale to be published which shall describe the property, the amount of the offer, and the terms under which the offer may be upset.
Body
Staff Resource(s):
Phil Reiger, General Services
Gregory Crawford, General Services
Explanation
§ Gambills II, LLC (Gambills) proposes to purchase approximately 0.065 acres of city-owned property near East 27th Street, which is zoned Transit Oriented Development-Urban Center and located in Council District 1.
§ Gambills owns property adjacent to this property: parcel identification number 083-051-03.
§ This property is an old rail spur purchased by the Charlotte Area Transit System for the Blue Line Extension as approved by City Council on March 26, 2012.
§ Since this parcel has been determined to be surplus, it is eligible to be marketed and sold.
§ The property to be put up for bid was transferred to General Services (formerly Engineering & Property Management) for the Cross Charlotte Trail Project.
§ Council has the authority to sell properties through the upset bid procedures according to NC General Statute §160A-269, and Section 8.22 of the city’s Charter.
§ This has been through the standard mandatory referral process.
§ The property was appraised by Cushman & Wakefield of North Carolina, Inc., a certified appraiser, for $57,000.
§ An offer to purchase in the amount of $57,000, along with the required five percent deposit from Gambills II has been made.
§ This action is consistent with the City-Owned Real Estate and Facilities Policy. The intent of the policy is to ensure the acquisition, use, management, and disposition of the city-owned property demonstrate responsible, responsive, and transparent management of public resources and are consistent with City Council priorities core services.
Fiscal Note
Funding: Proceeds from the sale of the property will be deposited in the General Fund
Attachments
Attachment(s)
Map
Resolution