City of Columbus - File #: 0892-2008

• File #: 0892-2008
• Version: 2
• Type: Ordinance
• Status: Passed
• File created: 5/22/2008
• In control: Finance & Economic Development Committee
• On agenda: 6/16/2008
• Final action: 6/18/2008
• Title: To authorize the Director of Finance and Management to enter into a real estate purchase and sale contract with Gowdy Partners III, LLC for the sale of 4.849 acres of the City owned land commonly known as 681 W. Third Avenue, and to the extent they may be applicable, to waive the Land Review Commission requirements of the Columbus City Codes, and to declare an emergency.

Date	Ver.	Action By	Action	Result
6/18/2008	2	CITY CLERK	Attest
6/17/2008	2	ACTING MAYOR	Signed
6/16/2008	1	Columbus City Council	Approved as Amended	Pass
6/16/2008	1	Columbus City Council	Amended as submitted to the Clerk	Pass
6/16/2008	2	COUNCIL PRESIDENT	Signed
6/5/2008	1	Finance Drafter	Sent for Approval
6/5/2008	1	Auditor Reviewer	Reviewed and Approved
6/5/2008	1	CITY AUDITOR	Reviewed and Approved
6/5/2008	1	Finance Drafter	Sent for Approval
6/5/2008	1	CITY ATTORNEY	Reviewed and Approved
6/5/2008	1	Finance Drafter	Sent to Clerk's Office for Council
6/4/2008	1	FINANCE DIRECTOR	Reviewed and Approved
6/3/2008	1	Finance Reviewer	Reviewed and Approved
6/3/2008	1	Finance Reviewer	Reviewed and Approved
5/29/2008	1	Finance Drafter	Sent for Approval
5/29/2008	1	Finance Reviewer	Reviewed and Approved

Explanation

Background: The City owns fee title to the property at the corner of Olentangy River Road and Third Avenue, known as 681 W. Third Avenue, that currently houses the heliport operations of the Division of Police (CPD). The heliport operations are being moved to a new location currently under design and construction at 2130 W. Broad Street. The exisiting heliport site will be surplus city property upon the vacation of the site by the CPD late in 2009.
The current heliport site contains 9.878 acres. Gowdy Partners, LLC, as approved by Ordinance 0181-2006, has an option to purchase the 2.529 acres of the site adjacent to the Gowdy Field office park for possible expansion of that project. The highest and best use of the remaining 4.849 acres of the heliport site is commercial development. The property was surveyed, appraised, and offered for sale via Public Notice 0233-2007 "Request for Purchase Proposals" and also listed for sale on Xceligent, a commercial property listing service. Multiple purchase offers were received. The Directors of Finance and Management and Development interviewed the top four developers, and recommended selling the site for $2,000,000 to Gowdy Partners III, LLC for development of a commercial office building or mixed commercial uses. This ordinance authorizes the Director of Finance and Management to enter into the purchase and sale agreement with Gowdy Partners III, LLC.

Fiscal Impact: Proceeds from this transaction shall be deposited in Fund 748 the General Permanent Improvement Fund.

Emergency Justification: Emergency action is requested to allow this acquisition to proceed in agreement with the proposed terms and conditions of the purchase contract which require City Council approval of the transaction by June 23, 2008.


Title

To authorize the Director of Finance and Management to enter into a real estate purchase and sale contract with Gowdy Partners III, LLC for the sale of 4.849 acres of ...