Explanation
Background: The City recently acquired a property located at 4252 Groves Road to allow for growth, increase operational efficiencies, and reduce operating expenses by consolidating and relocating a number of its functions and operations currently housed in both leased and city-owned buildings. An adjacent property containing approximately 7.5 acres of vacant land is available for purchase that, combined the City's existing 4252 Groves property, will allow for better utilization of the buildings and site at 4252 Groves and will allow for the relocation of additional functions to the combined site. The property at 4250 Groves abutts city-owned property on portions of its north, south, and west sides - the 4252 Groves site on both its south and west sides, and on a portion of its north side, a city-owned property that houses a communications tower for the Department of Public Safety. This acquisition will allow the City to combine all three properties into a single site improving access to the two existing city properties and the security of the communications tower site.
This legislation authorizes the Director of Finance and Management to execute those documents necessary to purchase that real property from Mikuria K. Tegegne and Alemitu Ayana, husband and wife, and to expend up to $165,000.00, for all costs associated with said acquisition. Purchase contingencies include, but are not limited to, the satisfactory completion of Environmental Site Assessments (Phase I ESA and Phase II, if necessary).
Fiscal Impact: Funding for this project is available on AC032562 funded in the 2011 Capital Improvement Budget. This AC was orginally set up for $2.4 million and has an available balance of $175,000.00
Emergency Justification: Emergency action is requested to allow for the immediate execution of the purchase agreement by the City so that the acquisition can proceed in agreement with the closing transaction deadlines and other terms of the purcha...
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