Title
Property Transactions in Support of the North End Around Taxiway Project
Action
Action:
A. Approve the Property Acquisition of 3115 Sears Road for the Charlotte Airport North End Around Taxiway Project, and
B. Adopt a resolution approving the sale of 14.16 acres of city-owned property located on Old Dowd Road (parcel identification numbers 113-111-18, 113-111-02, 113-111-03, 113-111-04, 113-111-05, and 113-122-54) to Quest Four Investments for $675,000.
Body
Staff Resource(s):
Brent Cagle, Aviation
Haley Gentry, Aviation
Explanation
§ The Airport is purchasing the Sears Road property from Quest Four Investments (Quest) for the North End Around Taxiway (NEAT) project.
§ Quest will need to relocate their business and prefers to remain in proximity to the Airport.
§ The Airport has agreed to sell six parcels of land to Quest Four Investments. Doing so will enable Quest to continue operations near the airport and will allow the City of Charlotte to make further progress towards completing the NEAT Project while also reallocating land that is in the Airport’s Reuse plan.
Action A:
The 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 Federal Aviation Administration reimbursement.
Project: NEAT project
Program: Not Applicable
Owner(s): Quest Four Investments
Property Address: 3115 Sears Road
Total Parcel Area: 6.7793 acres
Property to be acquired by Easements: Not Applicable
Structures/Improvements to be impacted: Commercial building, fencing
Landscaping to be impacted: Trees and shrubs
Zoned: I-2
Use: Industrial
Tax Code: 11302102
http://polaris3g.mecklenburgcountync.gov/#mat=100733&pid=11302102&gisid=11302102
Purchase Price: $1,950,000 and all relocation benefits in compliance with federal, state, or local regulations
Council District: 3
Action B:
§ The Aviation Department participates in Federal Aviation Administration’s (FAA) Part 150 Noise Program. The FAA Part 150 Noise Program requires airports to purchase properties significantly impacted by noise and put this land back into productive use.
§ The city has acquired multiple parcels of land located along Old Dowd Road as part of the Part 150 Noise Program.
§ Aviation has negotiated with Quest for the sale of an approximately 14-acre site on Old Dowd Road.
§ Aviation contracted with two appraisers to complete independent appraisals to determine fair market value of the property.
§ This sale is contingent upon FAA approval.
§ The sale price is $675,000.
§ The tax parcels include: North of Old Dowd 113-111-18, 113-111-02, 113-111-03, 113-111-04, 113-111-05 totaling approximately 6.40 acres; South of Old Dowd 113-122-54 totaling approximately 7.76 acres.
- http://polaris3g.mecklenburgcountync.gov/#mat=203540&pid=11311118&gisid=11311118
- http://polaris3g.mecklenburgcountync.gov/#mat=203061&pid=11311102&gisid=11311102
- http://polaris3g.mecklenburgcountync.gov/#mat=310000&pid=11311103&gisid=11311103
- http://polaris3g.mecklenburgcountync.gov/#mat=202438&pid=11311104&gisid=11311104
- http://polaris3g.mecklenburgcountync.gov/#mat=202141&pid=11311105&gisid=11311105
- http://polaris3g.mecklenburgcountync.gov/#pid=11312254&gisid=11312254
Fiscal Note:
Funding: Proceeds from the sale will be deposited into the Aviation Capital Investment Plan
Attachments
Attachment(s)
Resolution for Land Sale