Title
Land Acquisition for Charlotte Fire Department
Action
Action:
A. Approve the purchase of a 2.03-acre property located at 5800 North Tryon Street (parcel identification number 049-011-12) in the amount of $1,700,100 from Metrolina Retail LLC, HKS2&3 Holdings LLC, RFVW Properties LLC and Jamanadas Kothadia for the Hidden Valley Infill Fire Station, and
B. Authorize the City Manager to negotiate and execute any documents necessary to complete this transaction.
Body
Staff Resource(s):
Phil Reiger, General Services
Tony Korolos, General Services
Reginald Johnson, Fire
Explanation
• In October 2019, Charlotte Fire established a Facilities Master Plan, which prioritized capital improvements for the next two years and outlined facility goals through 2029. The Hidden Valley Infill Station was identified as the top priority in this plan.
• The 2.03-acre property is zoned industrial and is located at 5800 North Tryon Street (parcel identification number 049-011-12) in Council District 4.
• This transaction is consistent with City Council’s adopted City-Owned Real Estate and Facilities Policy.
• On February 16, 2021, the Charlotte-Mecklenburg Planning Commission recommended approval for the City to purchase the land through the mandatory referral process.
• The terms of the transaction are:
- $1,700,100 appraisal price with a five percent earnest money deposit, and
- 30-day due diligence period with 30 days to close.
Fiscal Note
Funding: General Capital Investment Plan
Attachments
Attachment(s)
Map