Title
Sale of City-Owned Property on Shopton Road
Action
Action:
Adopt a resolution approving the sale of 117.16 acres of city-owned property located on Shopton Road to EastGroup Properties, L.P. for $7,015,000.
Body
Staff Resource(s):
Brent Cagle, Aviation
Explanation
* This action authorizes the sale of nine vacant parcels of land that total approximately 117.16 acres in Council District 3. The parcels are zoned I-1(CD) and are part of the Federal Aviation Administration's (FAA) Part 150 Noise Program (Noise Program).
* Aviation participates in the FAA's Noise Program. The 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 Shopton Road as part of the Noise Program.
* On February 7, 2020, the city issued an Invitation to Bid for the sale of this property; five bids were received.
* EastGroup Properties, L.P. was selected as the highest responsive, responsible bidder.
* 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 winning bid and final sale price is $7,015,000.
* Tax Parcels: 141-071-25, 141-071-26, 141-071-21, 141-071-04, 141-241-07, 141-071-06, 141-071-22, 141-071-23, and 141-071-09.
* http://polaris3g.mecklenburgcountync.gov/#mat=111359&pid=14107125&gisid=14107125
* http://polaris3g.mecklenburgcountync.gov/#pid=14107126&gisid=14107126
* http://polaris3g.mecklenburgcountync.gov/#pid=14107121&gisid=14107121
* http://polaris3g.mecklenburgcountync.gov/#mat=106761&pid=14107104&gisid=14107104
* http://polaris3g.mecklenburgcountync.gov/#pid=14124107&gisid=14124107
* http://polaris3g.mecklenburgcountync.gov/#pid=14107106&gisid=14107106
* http://polaris3g.mecklenburgcountync.gov/#pid=14107122&gisid=14107122
* http://polaris3g.mecklenburgcountync.gov/#mat=440277&pid=14107123&gisid=14107123...
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