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 ...
Click here for full text