Title
Property Transactions - 25th Street Connection, Parcel #6
Action
Action: Approve the following Condemnation: 25th Street Connection, Parcel #6
Body
Project: 25th Street Connection, Parcel #6
Owner(s): Fountains Noda Holdings, LLC
Property Address: 511 East 25th Street
Total Parcel Area: 106,246 sq. ft. (2.439 ac.)
Property to be acquired by Fee: 4,748 sq. ft. (.109 ac.) in Fee Simple
Property to be acquired by Easements: 1,501 sq. ft. (.034 ac.) in Temporary Construction Easement
Structures/Improvements to be impacted: None
Landscaping to be impacted: None
Zoned: I-2
Use: Industrial
Tax Code: 083-053-08
Appraised Value: $139,150
Property Owner’s Concerns: The property owner does not agree with the compensation amount offered.
City’s Response to Property Owner’s Concerns: Staff informed the property owner they could obtain their own appraisal to justify a counter offer.
Recommendation: 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: 1