Subject:
Title
Consideration of Purchasing Real Property Located at 440 Beulah Road NE
Body
EXPLANATION AND SUMMARY:
The Town is considering the purchase of real property located at 440 Beulah Road NE (parcel # 38-2 ((2)) 154). Improvements on the property include a one-story single-family detached dwelling, with a driveway and a rear-yard deck. The detached dwelling was built in 1955. The lot is zoned RS-12.5 Single-family Detached Residential and consists of 18,586 square feet (or .43 acres). The Town-owned Beulah Road Mulch Yard borders the rear-yard property line and a side-yard property line.
The Town intends to use the property in the future for public use.
The owner of the property has accepted the Town’s offer of $712,000. The Town Council will need to vote to approve the purchase of the property and go to settlement.
Departmental Recommendation: Recommend approval
Finance Recommendation: Recommend approval
Purchasing Recommendation: N/A
Town Attorney Recommendation: The Town Council may approve the acquisition of real estate and expenditure of funds in its discretion.
Town Manager's Recommendation: I recommend the Town Council approve the purchase of property located at 440 Beulah Road NW in the amount of $712,000 as presented.
Cost and Financing: $712,000
Account Number: 300-000-0000-39425-48005
Decision Needed by This date: May 21, 2018
PROPOSED/SUGGESTED MOTION
Recommended Action
"I move to "
Approve the purchase the property located at 440 Beulah Road NE in the amount of $712,000, plus additional closing costs in an amount not to exceed $2,000.
Or
Other action deemed necessary by Council.