Title
Property Transactions - Rea Road Widening, Parcel # 1
Action
Action: Approve the following Condemnation: Rea Road Widening, Parcel # 1
Body
This property is acquired in accordance with Federal Guidelines 49 CFR Part 24 of the Uniform Acquisition and Relocation Act of 1970. Acquisition costs are eligible for North Carolina Department of Transportation reimbursement and Federal Transit Administration reimbursement.
Project: Rea Road Widening (I-485 to Williams Pond Lane), Parcel # 1
Program: Rea Road Widening (I-485 to Williams Pond Lane)
Owner(s): Zenith Investment Grantor Trust, Summit De Corporation, Trustee
Property Address: 7828 Rea Road
Total Parcel Area: 1,893,945 sq. ft. (43.479 ac.)
Property to be acquired by Easements: 8,357 sq. ft. (0.192 ac.) Utility Easement, 2,144 sq. ft. (0.049 ac.) Sidewalk Utility Easement and 8,334 sq. ft. (0.191 ac.) Temporary Construction Easement
Structures/Improvements to be impacted: Concrete curbing
Landscaping to be impacted: Trees and various plantings
Zoned: CC
Use: Commercial
Parcel Identification Number: 225-041-19
https://polaris3g.mecklenburgcountync.gov/#mat=571967&pid=22504119&gisid=22504119
Appraised Value: $144,650
Property Owner’s Concerns: The property owner is concerned about the amount of compensation offered.
City’s Response to Property Owner’s Concerns: The city informed the property owner they could obtain their own appraisal or provide supporting documentation to justify any counteroffer. The city continues to negotiate with the property owner.
Recommendation: The recommendation is to proceed to condemnation during which time negotiations can continue, mediation is available, and if necessary, just compensation can be determined by the court.
Council District: 7
Attachments
Attachment(s): Map