Title
Sale of City-Owned Property on Piaffe Avenue and Shady Oak Court
Action
Action:
A. Approve the sale of 3.3 acres of City-owned property located at 4125 Piaffe Avenue and 11915 Shady Oak Court (parcel identification numbers 195-056-48 and 195-181-99) to Daniel P. Vey for $63,050, and
B. Authorize the City Manager to negotiate and approve all documents necessary to complete the sale of the property.
Body
Staff Resource(s):
Mike Davis, Engineering and Property Management
Tony Korolos, Engineering and Property Management
Angela Lee, Charlotte Water
Explanation
§ The City-owned property at 4125 Piaffe Avenue and 11915 Shady Oak Court in Mint Hill (adjacent to Council Districts 5 and 6) is 3.3 acres and zoned R (residential).
§ The City acquired the property through purchase of a private water system and the parcels functioned as neighborhood well lots.
§ The property is not developable per Town of Mint Hill Planning since it does not meet the required road frontage.
§ After receiving an initial offer for $60,000, the offer was advertised for upset bid.
§ One upset bid was received from Mr. Vey, an individual, in the amount of $63,050. The bid was advertised for upset bid, and no bids were received.
§ The qualifying upset bid includes the following terms:
- Purchase price of $63,050 with a bid deposit of $3,153, meeting or exceeding five percent,
- Earnest money deposit of $3,000,
- No due diligence period, and
- Closing to occur within 30 days.
Fiscal Note
Funding: Charlotte Water Operating Budget
Attachments
Attachment(s)
Map