Title
Authorization to Purchase Lot 36 of the Pine Ridge Subdivision (NB)
This item involves the authorization to purchase Lot 36 of the Pine Ridge Subdivision from the estate of George Quinn, Jr., for the Northeast 19th Terrace Renovation Project.
Explanation
Lot 36 of the Pine Ridge Subdivision is the final lot in the land acquisition associated with the Northeast 19th Terrace Renovation Project. In May of 2006, the City retained outside legal counsel to complete the probate process for the heirs of George Quinn, Jr. Through mediation, a final agreement was reached with a representative of the fourteen heirs of the estate, to sell the property to the City for $30,000. Within 20 days of August 13, 2007, the payment is to be placed in an escrow account for the estate. The judge overseeing the probate will order the personal representative of the estate to execute a deed onto the City for Lot 36. The cost associated with the probate process, $2,504.50, and back taxes, $195.17, will be billed the estate of George Quinn, Jr., upon acquisition of Lot 36.
Fiscal Note
Funding in the amount of $30,000 for the acquisition of Lot 36 of the Pine Ridge Subdivision is available in the Northeast 19th Terrace Renovation multi-year capital project account.
Recommendation
Recommended Motion: The City Commission: 1) approve the acquisition of Lot 36 of the Pine Ridge Subdivision from the estate of George Quinn, Jr., for $30,000.
Alternative Recommendation: The City Commission deny the request and end work on the Northeast 19th Terrace Renovation Project.