Title
Land Acquisition for Charlotte Water
Action
Action:
Approve the purchase of an approximately 23-acre parcel located at 12300 US Highway 29 (parcel identification number 051-081-26) in the amount of $4,350,000 from Trevi Partners, LLC.
Body
Staff Resource(s):
Mike Davis, Engineering and Property Management
Tony Korolos, Engineering and Property Management
Angela Lee, Charlotte Water
Explanation
§ Charlotte Water operates the Mallard Creek Wastewater Treatment Plant at 12408 US Highway 29 in northeast Charlotte. The treatment plant is in a developing area and surrounded by residential neighborhoods.
§ Staff anticipates an expansion of the Mallard Creek Wastewater Treatment plant within the next 10 years to address capacity needs. This property will provide land area for construction if additional property is required for facility expansion.
§ Acquisition of the 23-acre parcel (parcel identification number 051-081-26) adjacent to the treatment plant on Highway 29 (Council District 4) would create a buffer between the plant and future development and provide additional opportunities for secondary treatment plant access and expansion.
§ The terms of the acquisition are:
- Purchase price: $4,350,000, negotiated based on appraised value,
- Due diligence period: 30 days,
- Earnest money deposit: five percent, and
- Closing period: 30 days.
Fiscal Note
Funding: Charlotte Water Community Investment Plan
Attachments
Attachment(s)
Map