City of Roswell - File #: 10-0712

• File #: 10-0712
• Version: 2
• Name: Oxbo Rd Apts Purchase
• Type: Item with Resolution
• Status: Passed
• File created: 10/15/2010
• In control: Mayor and City Council Special Called
• On agenda: 10/25/2010
• Final action: 10/25/2010
• Title: Approval of a Resolution to purchase property at 15 Oxbo Road.

Date	Ver.	Action By	Action	Result
10/25/2010	2	Mayor and City Council	Approved	Pass
10/20/2010	1	Mayor and City Council Special Called	Approved	Pass

Title

Approval of a Resolution to purchase property at 15 Oxbo Road.

Body

Item Summary:

The City wishes to purchase the property at 15 Oxbo Road for an infrastructure improvement. The property owner, Curtis Mills, has agreed to a purchase price for the property for $700,000, plus an exchange of an unused City parcel. Community Development Block Grant funds are paying for $502,282 of the purchase with the remaining funds coming from General Funds.

Executing the accompanying resolution and purchase agreement will signify acceptance by the City for closing on October 29, 2010.

Committee or Staff Recommendation:

Staff recommends approval.

Financial Impact:

Arts Village Infrastructure has $502,282 in Cost Center 4200G2, Account 541100, and Project Number 11GRA004.  Budget Amendment 7410CP-10-20-10 transferred $197,718 in Cost Center 7410CP, Account 541415 from project number 06GRA004 Oak St Streetscape to 11GRA004 Arts Village Infrastructure.  Oak Street Streetscape now has $393,665.94 available.

Presented by:

David Davidson, City Attorney