Title
Upset Bid Process for City-Owned Property on Witham Passage
Action
Action:
A. Adopt a resolution to accept an offer and authorize the upset bid process for three city-owned properties (parcel identification numbers: 105-311-10, 105-311-11, and 105-271-98) located at Witham Passage, and
B. Authorize the City Clerk to cause a notice of the proposed sale to be published, which notice shall describe the property, the amount of the offer, and state the terms under which the offer may be upset.
Body
Staff Resource(s):
Phil Reiger, General Services
Gregory Crawford, General Services
Angela Charles, Charlotte Water
Explanation
§ MartinRay Holdings, LLC a North Carolina limited liability company (MartinRay), offered to purchase three city-owned parcels (parcel identification numbers: 105-311-10, 105-311-11, and 105-271-98), located at Witham Passage in the Brantley Oaks Subdivision (“Property”), in Council District 5. The properties total 1.3 acres and are zoned R-3 Residential.
§ MartinRay intends to use the Property for utility connections to a new subdivision development project.
§ City Council has the authority to sell property in accordance with NC General Statute §160A-229, and the City Charter Section 8.22.
§ In June 2020 and May 2021, the Charlotte-Mecklenburg Planning Commission reviewed the proposed request to sell and had no comments.
§ On February 23, 2021, the Property received an internal consulting estimate of $28,600 representative of the current market value. On June 29, 2023, Real Estate completed an updated appraisal for the properties. The updated value is $28,500.
§ MartinRay has offered to purchase the Property for the amount of $28,600, and deposited the required five percent of the offer.
Fiscal Note
Funding: Proceeds from the sale will be deposited in the Charlotte Water Operating Fund.
Attachments
Attachment(s)
Map
Resolution