Title
Property Transfers and Release of Deed Restriction from Mecklenburg County
Action
Action:
A. Authorize the transfer of $1,618,080 to Mecklenburg County through the Government Real Estate Transfer Ledger for the Powerhouse Building at 1507 Camden Road (tax parcel identification number 123-041-10),
B. Approve release of the deed restriction on the Dowd House property at Greenland Avenue and Monument Street (tax parcel identification number 067-061-06) requiring that the property be used for park and recreational purposes, and
C. Authorize the sale of 0.10 acres of City-owned property at 300 North Tryon Street (tax parcel identification number 080-023-06) to Mecklenburg County through the Government Real Estate Transfer Ledger for $870,000.
Body
Staff Resource(s):
Phil Reiger, General Services
Jennifer Smith, General Services
Tony Korolos, General Services
Explanation
Action A
* The city acquired land at 1507 Camden Road (tax parcel identification number 123-041-10), in Council District 3, in 2005 for the CATS Blue Line project.
* The city subsequently entered into a lease agreement with Charlotte Trolley, Inc. on June 11, 2007 to operate a public trolley museum at that address for a term of 80 years. Mecklenburg County contributed to the construction of the museum building and by agreement retained ownership of the building.
* In the event the facility ceased to operate as a public museum, the city reserved the right to terminate the lease. Upon early termination, the county was entitled to receive then-current fair market value for the property improvements.
* The lease with Charlotte Trolley, Inc. was terminated following cessation of operation as a public trolley museum, in accordance with the terms of the lease, on January 31, 2017. Following termination of the lease, Mecklenburg County requested payment from the city, based on appraised value.
* Appraisals of the structure were completed by the city and county, and an amount of $900,000 w...
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