Title
Property Transactions - Five Points Plaza Improvements, Parcel #1
Action
Action: Approve the following Condemnation: Five Points Plaza Improvements, Parcel #1
Body
Project: Five Points Plaza Improvements, Parcel #1
Owner(s): Mechanics and Farmers Bank
Property Address: 101 Beatties Ford Road
Total Parcel Area: 16,500 sq. ft. (.379 ac.)
Property to be acquired by Fee: 1,204 sq. ft. (.028 ac.) in Fee Simple
Property to be acquired by Easements: 408 sq. ft. (.009 ac.) in Temporary Construction Easement
Structures/Improvements to be impacted: Fence and gate
Landscaping to be impacted: Trees and various plantings
Zoned: O-2
Tax Code: 069-012-33
Appraised Value: $69,725
Recommendation: We are currently waiting on signed documents but to avoid delay in the project schedule, staff recommends proceeding to condemnation during which time negotiations can continue, mediation is available and if necessary, just compensation can be determined by the court.
Council District: 2