Title
Property Transactions - Lakeview-Reames Intersection Improvements, Parcel #20
Action
Action: Approve the following Condemnation: Lakeview-Reames Intersection Improvements, Parcel #20
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 and Federal Transit Administration reimbursement.
Body
Project: Lakeview-Reames Intersection Improvements, Parcel #20
Owner(s): Lugor Associates, LLC
Property Address: 4700 Lakeview Road
Total Parcel Area: 209,952 sq. ft. (4.820 ac.)
Property to be acquired by Fee: 7,314 sq. ft. (.168 ac.) in Fee Simple, plus 13,099 sq. ft. (.301 ac.) in Fee Simple within Existing Right-of-Way
Property to be acquired by Easements: 353 sq. ft. (.008 ac.) in Storm Drainage Easement, plus 6,108 sq. ft. (.14 ac.) in Sidewalk and Utility Easement, plus 3,483 sq. ft. (.08 ac.) in Temporary Construction Easement
Structures/Improvements to be impacted: None
Landscaping to be impacted: None
Zoned: R-4
Use: Single-family Residential
Tax Code: 037-155-11
Appraised Value: $6,375
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: 2