Title
A RESOLUTION AUTHORIZING THE CITY MANAGER TO ENTER INTO AN AGREEMENT WITH OWNERS OF A PROPERTY LOCATED AT PARCEL #3201646, FOR THE PURCHASE OF A 14.22 ACRES OF A 16.9 ACRE PARCEL; AND DECLARING AN EMERGENCY.
Brief Description: The City of Hudson is interested in the purchase of approximately 14.22 acres of a 16.9-acre parcel located on South Main Street otherwise identified by the Summit County Auditor as Parcel #3201646. The land is currently owned by the following parties: Arthur Stokes, Jr., David Little, Kathleen Little Clites, Margaret Little Martinez, Allan J. Stokes Trustee, and Kim S. Stokes and Donald Lee Cook Trustee.
Body
Legislative History
None.
Purpose & Explanation
Proposed Real Estate Purchase Agreement:
The City of Hudson is interested in the purchase of approximately 14.22 acres of a 16.9-acre parcel located on South Main Street otherwise identified by the Summit County Auditor as Parcel #3201646.
The City and the property owners have agreed to enter into a purchase and sale agreement for the price of $205,309.00 for the 14.22-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 #3201646 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 14.22-acre property, or $14,438 per acre based on the final survey acreage.
By approving this agreement, the City of Hudson will secure the opportunity to acquire a valuable property asset near the center of Hudson and our downtown that will benefit the community.
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
Other [provide explanation]
Fiscal Impact
Currently Budgeted (Account #, $)
X Supplemental Appropriation Required ($205,309.00)
Appropriation Not Required
Does this legislation require use of an emergency clause?
X Yes [if so, explain why]
No
Recommendation
Suggested Action
The City recommends Council approve this request to allow the City Manager to enter into an agreement with the property owners for the purchase of 14.22 acres of the property located at Summit County Parcel #3201646, and declaring an emergency.
Submitted by,
Thomas J. Sheridan, City Manager