HomeMy WebLinkAboutRESOLUTION TO AUTHORIZE TRANSFER AND SALE OF PROPERTY TO THE AUGUSTA GA LAND BANK AUTHORITY i
w�. � �
RESOLUTION TO AUTHORIZE TRANSFER AND SALE OF PROPERTY TO THE
AUGUSTA, GEORGIA LAND BANK AUTHORITY
WHEREAS, the Augusta Commission (hereinafter "City" or "Augusta") has approved the
transfer and sale of the property commonly known as Map and Parcel 036-3-188-00-0, 036-3-
190-00-0, 036-3-191-00-0, 036-3-192-00-0, 036-3-193-00-0, 036-3-194-00-0, 036-3-197-00-0,
036-3-198-00-0, 036-3-199-00-0, 036-3-200-00-0, 036-3-210-00-0 (the "Property"), to the
Augusta, Georgia Land Bank Authority (the "Land Bank); and
WHEREAS, it is anticipated that the Land Bank will subsequently sell the Property to a
developer for one or more retail stores, thereby returning the property to the tax rolls of Augusta;
and
WHEREAS, it is anticipated that the property will be sold for the sum of $505,000.00,
such sale price being subject to an upward adjustment in the event that such amount is
insufficient to satisfy any liens that the Federal Transportation Administration or the State of
Georgia may have against the property; and
WHEREAS, such transfer is conditioned upon and contingent upon net sales proceeds
being delivered to Augusta, Georgia; and
WHEREAS, such transfer is further conditioned upon the Land Bank and Augusta
entering into a Lease at zero dollars rent to enable Augusta to remain in possession of the
Property until such time as its transit operations are relocated from the Property.
NOW THEREFORE, it is hereby resolved as follows:
1. That the property commonly known as Map and Parcel 036-3-188-00-0, 036-3-190-
00-0, 036-3-191-00-0, 036-3-192-00-0, 036-3-193-00-0, 036-3-194-00-0, 036-3-197-
00-0, 036-3-198-00-0, 036-3-199-00-0, 036-3-200-00-0, 036-3-210-00-0 shall be
transferred to the Augusta, Georgia Land Bank Authority in consideration of the net
�^:� ���
`. , - .
sales proceeds from any sale of the property by the Augusta, Georgia Land Bank
Authority being delivered to Augusta, Georgia for deposit in the General Fund of
Augusta, Georgia. It is anticipated that the subject property will be sold for
$505,000, less any liens of the Federal Transportation Administration or the State of
Georgia
2. That a lease shall be entered into by and between Augusta, Georgia as Tenant, and
the Augusta, Georgia Land Bank Authority as Landlord, at $0.00 rent, the term of
the lease to terminate upon Augusta, Georgia relocating its transit operations from
the Property.
3. It is further resolved that the Mayor of Augusta, Georgia shall execute such lease
and a Limited Warranty Deed to the Augusta, Georgia Land Bank Authority as well
as such other documentation as may reasonably be required, in form approved by the
General Counsel, conveying all of Augusta's interest in the property, which interest
is subject to all easements and restrictions of record.
4. This Resolution shall be recorded in the Minutes of the Augusta-Richmond County
Commission, accompanied by the e�ibits referred to herein.
Duly adopted by the Augusta-Richmond County Commission, this � day of
January, 2012.
Augusta-Richmond County Commission
� � ' �
� BY: -�/'�' .-
As Its Mayor ��.,�,�,��
�.�, .. .�
< ,�. -A�
�. .. ,�,����
� �- .+ �o
.
ATTEST;:
Clerk �` �' � ,�. `;�� �' `°; � � ..� /
. � � �� �ti �F� . � � �
� C tt �
� �� E: ���i� �1'��.��z... 9 a �
P, � W..
� � A", ` �'��°d2Ti.�. � •� �
� ° r': , . ` � S�. �s4 +� .1�
� �/ ` ' yc,�3 � A� .
�\ �� �� frrsg,�,.���� �' ,�
` �,
+ �'t ,,+�:� � �.�Qa.`�" .
.�;zi �.�b`"�r'.:'