Title
Property Transactions - Tuckaseegee - Berryhill - Thrift Roundabout, Parcel #7
Action
Action: Approve the following Condemnation: Tuckaseegee - Berryhill - Thrift Roundabout, Parcel #7
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.
Body
Project: Tuckaseegee - Berryhill - Thrift Roundabout, Parcel #7
Owner(s): General Electric Company
Property Address: 2328 Thrift Road
Total Parcel Area: 105,007 sq. ft. (2.411 ac.)
Property to be acquired by Easements: 648 sq. ft. (.015 ac.) in Storm Drainage Easement, plus 6,353 sq. ft. (.146 ac.) in Sidewalk and Utility Easement, plus 6,723 sq. ft. (.154 ac.) in Temporary Construction Easement, plus 253 sq. ft. (.006 ac.) in Utility Easement, plus 4,917 sq. ft. (.113 ac.) in Right of Way Easement
Structures/Improvements to be impacted: None
Landscaping to be impacted: Trees and various plantings
Zoned: I-2
Use: Industrial
Tax Code: 071-082-04
Appraised Value: $17,725
Amount Withheld for Environmental Mitigation, per Federal Guidelines: $17,725 (Estimated cost of mitigation is $30,000)
Initial Deposit Amount: $0
Property Owner’s Concerns: The property owner is concerned with the amount of compensation being offered.
City’s Response to Property Owner’s Concerns: Staff informed the property owner that they could obtain an appraisal in order to justify their 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: 3