Bill Type and Number: Ordinance 2007 - 247

Sponsor: Council President at the request of the Mayor

Date of Introduction: February 26, 2007

Committee(s) of Reference: R, F, A, TEUS

Date of Analysis: March 2, 2007

Type of Action: Declaration of surplus & approving the transfer of real property

Bill Summary: The bill declares a lot, RE # 045009-3000, on 12^th Street in District 7 to be surplus and authorizes the Administration to deed the property to ACM Development Group, LLC, for the cost of the appraised value of $43,000. Further, the bill waives Section 122.429.

Background Information: ACM Development Group is an adjacent property owner. The ACM Development Group plans to build housing and would like to use subject parcel for parking. The lot is approximately 51 feet wide and 418 feet in length and lies between Liberty and Market streets, north of 11^th Street.

Policy Impact Area: Real Estate

Fiscal Impact: Undetermined

Analyst: Weiss