Regular 4.
Regular City Council Meeting
- Meeting Date:
- 08/22/2011
- TITLE
- Sale of Parkland in Twin Oaks Subdivision
- PRESENTED BY:
- Mike Whitaker
- Department:
- Parks/Rec/Public Lands
Presentation:
PROBLEM/ISSUE STATEMENT
On April 28, 2008 Twin Oaks Subdivision First Filing was approved by Council. With that approval, all of the developer's parkland dedication requirement was deeded to the City. Currently the subdivider is working to develop the Twin Oaks 2nd Filing. Due to decreased desirability of linear parkland that is not part of the greater Billings area trail system for both the City parks and Recreation Department and the future homeowners, as well as due to the redesign of the Shaw Circle street layout, the subdivider has proposed to re-assume that linear park area with one exception, as part of the salable lot area within Twin Oaks 2nd Filing.
The one exception will be a through block connection providing access to existing developed parkland. This connection will be improved by the subdivider during phase II of this development. There are three properties to be considered for sale to The Oakland Companies (subdivider) and described as Parcel A, 1.012 acres, Parcel B, .122 acres, and Parcel C, .11 acres (see Exhibits A and B).
Selling the property provides the City of Billings an opportunity to dispose of excess property and place the property on on the tax rolls. PRPL recommends that the City revert ownership of the three parcels totaling 1.25 acres of park property to the subdivider following the City's land vacation policy. This policy requires the subdivider to pay the fair market value of the vacated land in cash and/or parkland improvements. The subdivider has provided an appraisal by a 3rd party licensed appraiser and has arrived at a value of $3,000.00. PRPL recommends the City re-convey these dedicated park lands to the subdivider in consideration of a cash payment for the appraised value.
The one exception will be a through block connection providing access to existing developed parkland. This connection will be improved by the subdivider during phase II of this development. There are three properties to be considered for sale to The Oakland Companies (subdivider) and described as Parcel A, 1.012 acres, Parcel B, .122 acres, and Parcel C, .11 acres (see Exhibits A and B).
Selling the property provides the City of Billings an opportunity to dispose of excess property and place the property on on the tax rolls. PRPL recommends that the City revert ownership of the three parcels totaling 1.25 acres of park property to the subdivider following the City's land vacation policy. This policy requires the subdivider to pay the fair market value of the vacated land in cash and/or parkland improvements. The subdivider has provided an appraisal by a 3rd party licensed appraiser and has arrived at a value of $3,000.00. PRPL recommends the City re-convey these dedicated park lands to the subdivider in consideration of a cash payment for the appraised value.
ALTERNATIVES ANALYZED
The following alternatives were analyzed: 1. Proceed with the sale of the three properties to The Oakland Companies (subdivider) for the appraised value of $3,000.00. 2. Do not approve the sale of the three properties.
FINANCIAL IMPACT
The City will receive $3,000.00 as proceeds from the sale of these three properties. The money will go to account number 771-5165-382.67-40 Sale of Parkland and can be used for park improvements such as replacement of water slide flumes at Rose Park Pool.
RECOMMENDATION
Staff recommends proceeding with the sale of these three properties to the Oakland Companies for the appraised value of $3,000.00.