Title
Property Transactions - North Caldwell at 8th Street Traffic Signal, Parcel # 1
Action
Action: Approve the following condemnation: North Caldwell at 8th Street Traffic Signal, Parcel # 1
Body
Project: North Caldwell at 8th Street Traffic Signal
Program: North Caldwell at East 8th Street Traffic Signal
Owner(s): Seventh Street Investors, LLC
Property Address: 400 East 9th Street
Total Parcel Area: 132,852 sq. ft. (3.050 ac.)
Property to be acquired by Easements: 403 sq. ft. (0.009 ac.) sidewalk/utility easement, 197 sq. ft. (0.005 ac.) permanent utility easement, and 195 sq. ft. (0.004 ac.) temporary construction easement
Structures/Improvements to be impacted: None
Landscaping to be impacted: None
Zoned: UC
Use: Uptown Core
Parcel Identification Number(s): 080-063-01
https://polaris3g.mecklenburgcountync.gov/pid/08006301
Appraised Value: $56,625
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 their 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: 1
Attachments
Attachment(s): Map