At the regularly scheduled City Council meeting on May 9, 2019, Council unanimously approved a Real Property Exchange with Row Pine Development, LLC. Exact parcels to be exchanged were subject to further due diligence of all parcels involved. Various due diligence was performed (ie: wetland investigations, debris removal, etc.) and updated appraisal values have now been established.

Georgia Code O.C.G.A. 36-37-6(c) provides the City the ability to trade or exchange City-owned real property with private entities, provided the property received is equal to or greater in value than the property being traded.

Council has already approved of the trade of five (5) parcels located on the 600 block of East Broughton Street (PINs 2-0005 -20-001, -002, -003, -005 & -006) as well as an assemblage of undeveloped industrial parcels off of Feeley Avenue (PIN 2-0048 -03-001 & 2-0047 -01-001 plus some additional minor adjacent parcels). These parcels will be traded for a privately-owned assemblage of fifteen (115) commercial parcels within the Highlands area of Savannah (PINs 2-1016 -02-087, -088, -091, -092, -093, -107, -108, -109, -110, -111, -113, -114, -115, -116 & -117). Initial appraisals indicated the seller property was not valued as high as City property.  As a result, Row Pine added two additional parcels making the value $65,000 more than the City's property. The proposed lands to be acquired are within the Highlands, and area in the northwestern quadrant of the City that has been identified as an underserved portion of our community. If acquired, this property could serve residents as a future municipal service center, recreation facility, and/or police sub-station. 

In order to comply with the above referenced Code, staff is seeking Council’s authorization to add an additional two (2) properties to the existing agreement with Row Pine, LLC. Amendment Three to the Real Property Trade Agreement adds PIN 21016 02087 (2.04 acres) and PIN 21016 02088 (3.57 acres), for an additional total of 5.61 acres, to the land the City will acquire.

Further request authorization for the City Manager to execute all associated closing documents and deeds.

Approval