Title
A RESOLUTION AUTHORIZING THE CITY MANAGER TO ENTER INTO AN AGREEMENT WITH MR. ARTHUR JOSEPH JR. AND NANCY L. STOKES, OWNERS OF A PROPERTY LOCATED AT PARCEL #3201642, FOR THE PURCHASE OF 6.66 ACRES OF AN 11.5 ACRE PARCEL; AND DECLARING AN EMERGENCY.
Brief Description: The City of Hudson is interested in the purchase of approximately 6.66 acres of an 11.5-acre parcel located on South Main Street otherwise identified by the Summit County Auditor as Parcel #3201642. The land is currently owned by Arthur Joseph Jr. and Nancy L. Stokes, residing at 100 Stokes Lane, Hudson, Ohio.
Body
Legislative History
None.
Purpose & Explanation
Proposed Real Estate Purchase Agreement:
The City of Hudson is interested in the purchase of approximately 6.66 acres of a 11.5-acre parcel located on South Main Street otherwise identified by the Summit County Auditor as Parcel #3201642.
The City and the property owners have agreed to enter into a purchase and sale agreement for the price of $96,160.00 for the 6.66-acre property, or $14,438/acre based on the final survey acreage. The City has performed our due diligence, including an appraisal, wetland delineation and a title search, and there are no major issues with the property.
The land is currently owned by multiple family members and relatives and will be consolidated with 2 other properties located adjacent to this parcel. The City will also perform the costs necessary for the proposed lot-split survey from the remainder of parcel #3201642 as shown in the exhibit, drafting the proposed new deeds, legal easements, and title work for these new lot-split parcels, which is in addition to the land offer stated above.
The City and the property owner have agreed to a sale price of $205,309.00 total for the 6.66-acre property, or $14,438 per acre based on the final survey acreage.
Legal Authority for Proposed Legislation
Pursuant to Charter Section 6.04, Contracts & Purchasing:
Competitively bid and advertised for two consecutive weeks; bid tab attached: [Yes/No/NA])
Joint or Cooperative Purchase Program
Professional Services
X Other - Real Estate Purchase
Fiscal Impact
Currently Budgeted (Account #, $)
X Supplemental Appropriation Required ($96,160.00)
Appropriation Not Required
Does this legislation require use of an emergency clause?
X Yes
No
Recommendation
Suggested Action
The City recommends Council approve this request to allow the City Manager to enter into an agreement with Arthur Joseph Jr. and Nancy L. Stokes, for the purchase of 6.66 acres of the property located at Summit County Parcel # 32-01642, and declaring an emergency.
Submitted by,
Thomas J. Sheridan, City Manager