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April 26, 2018, City Council Regular Meeting
Title
33. Motion to Award Sale of Surplus Property at Cleland Street (Event No. 5743)
Strategic Priority
Neighborhood Revitalization
Description

Recommend approval to award the sale of the surplus real property at 0 Cleland Street to Cardinal Capital Management, Inc. in the amount of $75,000.00, and to authorize the City Manager to execute related contracts and closing documents.

This property (PIN 2-0021-02-044) is a 17,990 +/- square-foot vacant, residential lot located along Cleland Street, just south of Clearview Avenue, in the Hudson Hill/Bayview Neighborhood.

The property was declared surplus and available for sale during the regularly scheduled City Council meeting on October 12, 2017. RFP Event #5743 was issued soliciting sealed bids and proposals from interested buyers. One response was received; the response was evaluated and scored by committee.

The scoring response to acquire the lot was from Cardinal Capital Management, Inc. After negotiations with the sole bidder, a purchase price of $75,000.00 was agreed upon. Cardinal Capital Management, Inc. intends to develop 10 townhomes as part of a larger proposed 283-unit development. The 2017 Chatham County Board of Assessors has assessed the land value at $54,000.00

Recommendation

Approval

Contact
David Keating, Real Estate Services
Financial Impact
$75,000.00 deposit to the General Fund
Review Comments
Attachments
Purchasing Summary.pdf
Bid Tabulations.pdf
Cleland Street - Scope of Work.pdf
Clelan Street Property Sales Surplus Funding Verification.pdf
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