COUNCIL AGENDA ITEM
SUBJECT: Disposal of Real Property by Sale
DEPARTMENT: Administration
SUMMARY: The City owns a 4,000 square foot rectangular shaped piece of vacant property at the intersection of Umbrella Tree Drive and 26th Street. Under current codes, it is not developable and an adjacent property owner has approached showing interest in purchasing it.
Staff recently had it appraised and found its value to be $2,800. Aaron will charge $200 for a quitclaim deed and the appraisal cost was $400. I have asked the interested party to reimburse to the City all costs by certified bank check, money order, wire transfer or cash, which amount to $3,400. This will be required prior to Aaron drawing up the quitclaim deed.
The attorney general has opined that such a transfer is permissible as long as the city has no prohibition within its Charter.
BUDGETED ITEM: N/A
BUDGET AMENDMENT REQUIRED: Yes for the cash received.
RECOMMENDED ACTION: Motion to approve the sale of a remanent piece of real property belonging to the City of Edgewater.