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ITEM 10
City Council Memorandum Public Works & Utilities Memo No.
RE22-013
Date:
January 13, 2022
To:
Mayor and Council
Thru:
Joshua H. Wright, City Manager
Debra Stapleton, Assistant City Manager
John Knudson, Public Works and Utilities Director
Andrew Goh, Capital Projects Manager
From:
Stephen Shea, Real Estate Program Coordinator
Subject:
Final Adoption of Ordinance No. 4996 Authorizing the Sale of City Property Located in the Williams Field Business Park Subdivision
Proposed Motion:
Move City Council approve final adoption of Ordinance No. 4996 authorizing the sale of City property located in the Williams Field Business Park Subdivision on Roosevelt Avenue between Frye Road and Chandler Boulevard to Osborne Real Estate, LLC, an Arizona Limited Liability Company, for the amount of one hundred and ten thousand dollars ($110,000).
Background:
The City owns two parcels of land that are located on Roosevelt Avenue in the Williams Field Business Park Subdivision (the “Parcels”). The City acquired one parcel totaling 12,549 square feet in 1977 and the other parcel totaling 7,912 square feet in 1990. The Parcels total 20,461 square feet. Staff has determined that the Parcels are no longer needed for City operations.
The Parcels were appraised for $95,000 on June 22, 2021. The adjoining property owner, Osborne Real Estate, LLC, is willing to purchase the Parcels for $110,000, or approximately 16% above the appraised value. Staff recommends approval of the sale of the Parcels to Osborne Real Estate, LLC.
Staff has reviewed and approved the purchase agreement and legal descriptions.
This Ordinance was introduced and tentatively adopted on December 9, 2021.
Attachments
Location Map
Ordinance No. 4996 & Exhibit A
Exhibit B - Purchase Agreement
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