Withdraw this item.

Staff is seeking Council’s authorization to trade City-owned real property. Specifically, staff is interested in acquiring +/- 33 acres in the Highlands Business Park for future development of public services in the Northwest Area; said services to potentially include a mini-municipal service facility, ball fields, playgrounds, a police sub-station, and other such uses. In lieu of a cash transaction, staff has negotiated a land trade/exchange with the property owner.  The City would trade 5 parcels located along East Broughton Street, which the new owner would develop into a housing project. This land was originally acquired by the City for a future parking garage, but the City is building a parking garage on the Eastern Wharf property instead. In addition, the City would trade an assemblage of parcels along Feeley Avenue that the new owner would develop with future industrial uses.

OCGA 36-37-6(c ) provides the City with authority to trade or exchange real property so long as the value of the property received is greater than or equal to the value of the property being granted. The trade properties have been appraised. During due diligence, the parties will investigate issues such as wetlands, environmental issues, title issues, and other factors affecting the sites and values. The City would proceed only if the value of the property to be received is greater than or equal to the value of the property being granted.

Recommend approval to proceed with this land exchange subject to conditions noted, and authorization for the City Manager to execute all associated closing documents, once finalized.

Withdrawn