|
|
| 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 |
|
|
