HomeMy WebLinkAbout4.02 DubBlvdRemnantPrcls
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CITY OF DUBLIN
AGENDA STATEMENT
City Council Meeting Date: February 13, 1995
SUBJECT:
Dublin Boulevard Re1lU1ant Parcels - Status Report and Request to
Transfer Funds
Report by: Public Works Director Lee Thompson
EXHIBITS ATTACHED:
Location Map
RECO~ENDATION: ~
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Approve operating transfer and closure of Dublin Boulevard
Extension Fund
FINANCIAL STATEMENT:
The amount of the transfer is $276,447.00. The City will continue to
incur minor maintenance expense for weed control on the property
until it is sold.
-DESCRIPTION: Purchase of right-of-way for and the subsequent construction of the
Dublin Boulevard Extension resulted in two re1lU1ant parcels on the generally northerly side of Dublin
Boulevard, east of Dougherty Road.
Staffhas offered these parcels to both of the adjacent property owners, who declined to purchase the
property, and for public bid. The deadline for receiving bids was January 6th, and no bids were received.
One of the conditions of the public bid was a minimum bid price of $280,000, which was approximately the
amount of shortfall in the Dublin Boulevard Extension project. Staff felt that this minimum bid, at $12.60
per square foot, was a reasonable price for the property. Rather than re.advertise the property for bids at
this time with a lower (or no) minimum, Staff recommends retaining ownership of the property until the
market is better. The property would then be added to the City's list offixed assets at cost.
Therefore, Staff recommends that $276,447.00 be transferred to the Dublin Boulevard Extension Fund
(#221) from the General Fund in order to close out the project. At such time as the property is sold, the
revenue will accrue to the General Fund. Staff also recommends that the City Council approve closure of
the Dublin Boulevard Extension Fund once the transfer has taken place.
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Copies to:
CITY CLERK
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LOCATION
MAP