Subject:
Title
Approve purchase of real property located at 124 Courthouse Road SW
Body
EXPLANATION AND SUMMARY:
The property of the late former mayor Charles Robinson and his wife, the late former Councilmember Maud Robinson, recently was made available at public auction. Maud Robinson passed away in spring 2019, and the executor put the property up for auction with the McGuire Group, LLC. The parcel (0384 02 0073) is 31,688 square feet (almost ¾ an acre) and contains a single-family detached house and outbuildings on a partially wooded lot. It is zoned RS-10.
After discussion in closed session, Council authorized Town staff to purchase the property at a cost not to exceed a certain limit. On November 22, the Town was the successful bidder via the online auction, acquiring the property for a purchase price of $1,370,000. The transaction bears a 5 percent buyer’s fee, which makes the total purchase price $1,438,500. The Town may incur additional costs for settlement. To fulfill terms and conditions of the auction sale, the Town provided a 10 percent deposit of the purchase price on November 25, 2019.
Per discussion, the initial intended use for this property is for parkland, but potential uses will be discussed further by Council.
Town staff requests that Council approve purchase of the property for $1,438,500.
Departmental Recommendation: Recommend approval.
Finance Recommendation: Recommend approval.
Purchasing Recommendation: N/A
Town Attorney Recommendation: In closed session so as not to jeopardize the Town’s negotiation position or call attention to the Town’s wish to purchase the property located at 124 Courthouse Road SW, Town Council authorized the Town Manager to bid on the property. On Friday, November 22, 2019, the Town was the high bidder on the property. Town Council may approve the purchase and authorize the Mayor to execute all associated closing documents in its discretion.
Town Manager's Recommendation: I recommend the Town Council approve the purchase of the property at 124 Courthouse Road SW, as presented.
Cost and Financing: $1,438,500
Account Number: 300-000-0000-39470-48805
Decision Needed by This date: December 9, 2019
PROPOSED/SUGGESTED MOTION
Recommended Action
"I move to approve purchase of the property at 124 Courthouse Road SW for $1,438,500, plus additional closing costs in an amount not to exceed $10,000. I further move to authorize the Mayor to execute all associated closing documents to effect this purchase."
Or
Other action deemed necessary by Council.