STRATEGIC PRIORITY: Core
AGENDA DATE: April 9, 2025
COUNCIL DISTRICT(S): 2
DEPARTMENT: Department of Facilities and Real Estate Management
EXECUTIVE: Donzell Gipson
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SUBJECT
Title
An ordinance abandoning a portion of Wall Street to Cedars Corinth Owner, LLC, the abutting owner, containing approximately 7,962 square feet of land, located near its intersection with Corinth Street; and authorizing the quitclaim - Revenue: General Capital Reserve Fund ($302,461.00) and General Fund ($20,000.00), plus the $20.00 ordinance publication fee
Body
BACKGROUND
This item authorizes the abandonment of a portion of Wall Street to Cedars Corinth Owner, LLC, the abutting owner, containing approximately 7,962 square feet of land. The area will be included with the property of the abutting owner to construct a multi-family development. The abandonment fee is based on an independent appraisal.
Notices were sent to 13 property owners located within 300 feet of the proposed abandonment area. There were no responses received in opposition to this request.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
This item has no prior action.
FISCAL INFORMATION
Revenue: General Capital Reserve Fund ($302,461.00) and General Fund ($20,000.00), plus the $20.00 ordinance publication fee
OWNER/EXECUTIVE(S)
Cedars Corinth Owner, LLC
Cedars Corinth Venture LP, Sole Member
Cedars Corinth GP LLC, General Partner
Carl B Anderson IV, President
MAP
Attached