Title
Property Transactions - Lakeview Road Farm to Market, Parcel #2
Action
Action: Approve the following Condemnation: Lakeview Road Farm to Market, Parcel #2
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 Road Farm to Market, Parcel #2
Owner(s): Albany Road-77 Overlook, LLC
Property Address: 5527 Lakeview Road
Total Parcel Area: 238,160 sq. ft. (5.467 ac.)
Property to be acquired by Easements: 403 sq. ft. (0.009 ac.) in Temporary Construction Easement
Structures/Improvements to be impacted: None
Landscaping to be impacted: Trees
Zoned: I-1
Use: Industrial
Tax Code: 025-122-13
Appraised Value: $225
Property Owner’s Concerns: Property owner does not agree with the amount of
compensation offered.
City’s Response to Property Owner’s Concerns: Staff informed the property owner they could obtain their own appraisal in order to justify a counteroffer.
Recommendation: To avoid delay in the project schedule, the recommendation is to proceed 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