R2022-38 Resolution Authorizing Real Estate Agreement-Angle Court

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ECONOMIC & COMMUNITY DEVELOPMENT MEMORANDUM No. 22-10 February 28, 2022 TO: Honorable Mayor Julie Moore Wolfe and City Council FROM: Scot Wrighton, City Manager Cordaryl "Pat"Patrick, Economic &Community Development Director Greg Crowe,Assistant Director of Economic &Community Development SUBJECT: Resolution Authorizing Real Estate Purchase Agreement for Property Adjacent to Lake Decatur and 2405 and 2419 Angle Court SUMMARY RECOMMENDATION: It is recommended that the City Council authorize the sale of undeveloped land adjacent to Lake Decatur. BACKGROUND: The City of Decatur owns undeveloped land adjacent to Lake Decatur that borders 2405 and 2419 Angle Court. The owner of those properties submitted a proposal to purchase the property, shown in the Purchase Agreement as Exhibit A, from the City for $33,976. The prospective buyer provided the City an appraisal of the property with the proposed purchase value of$33,976. The prospective buyer intends to combine the City's property with the two lots at 2405 and 2419 Angle Ct. The combined property would be subdivided into three new lots with the current house at 2419 Angle Ct. staying as one lot, the house at 2405 Angle Ct. demolished and two new single-family homes constructed on the remaining two lots. The proposed three-lot subdivision is included in the Purchase Agreement as Exhibit B. Since, the property is adjacent to Lake Decatur the City wants to ensure the protection of the shoreline. Specific shoreline protection provisions are contained within in the Purchase Agreement for the Buyer including the building of shoreline erosion control and stabilization work prior to or with the issuance of building permits for the proposed two new homes. In addition, any future shoreline erosion shall require remedial action by the Buyer. INPUT FROM OTHER SOURCES: Public Works, Lake Management and Legal staff provided review and assistance in drafting the Real Estate Purchase Agreement including the shoreline protection provisions. STAFF REFERENCE: Any additional questions may be forwarded to Greg Crowe (gcr owe(wdecaturil.gov).