TO: Honorable Mayor and Council
FROM: Stuart Schmeling, Senior Planner, Community Services Department
SUBJECT:Title
Adopt Ordinance No. 14-1112 Authorizing the Exchange of a City Owned Parcel on Park Avenue per A.R.S. § 9-407 with an Adjacent Parcel of Substantially Equal Value
Body
FUNDING SOURCE:
N/A
PURPOSE:
To authorize staff to move forward with an exchange of property of substantially equal value with adjacent property owner Dr. Faibisoff.
BACKGROUND:
The exchange requires the creation of a parcel plat describing the properties. The parcel plat is provided as Attachment #2. Additionally, an appraisal has determined the value of each property to be similar. Once the exchange is authorized, deeds must be created and recorded to complete the action. Arizona State Law requires the exchange process be done by ordinance adopted by Council.
City staff has been in negotiations with Dr. Faibisoff to obtain a portion of his property. The 3.5 acre property located at 120 Park Avenue and is currently graded and being used for accessory parking. The property is adjacent to the Aquatic Center property and backs to the Rotary Park expansion area recently improved by the City.
The parcel plat creates two parcels of 4,524 and 4,544 square feet. The 4,544 square foot portion of City property will be exchanged and tied to Dr. Faibisoff's 3.47 acre parcel and the City will obtain the 4,524 square foot parcel and tie it to the Aquatic Center property. The newly acquired property will allow the City vehicular access to the newly constructed parking lot on the property adjacent to Rotary Park owned by the Arizona State Land Department. Attachment #3 is a summary of the appraisal. The full appraisal is available in the City Clerk's office for review.
COMMUNITY IMPACT:
The newly acquired property will allow vehicular access to be established between the Aquatic Center parking area and the new Rotary Park parking lot providing better vehicular circulation for the entire area. There is no negative financial impact to the community.
FISCAL IMPACT:
The estimated cost of a survey, appraisal, and recording fees is $4,500.
ATTACHMENTS:
Ordinance No. 14-1112
Parcel plat
Appraisal summary
SUGGESTED MOTION:Recommended Action
I move to adopt Ordinance No. 14-1112 authorizing the exchange of property of substantially equal value located on Park Avenue as allowed by Arizona Revised Statutes § 9-407 with Dr. Faibisoff including completion of parcel plat and the creation of deeds.