The Civic Connection is produced by the City of Norfolk on a monthly basis. Below are some highlights from April’s edition.
City Council Action:
Adopted an ordinance to purchase properties located at 1210 and 1227-29 West Little Creek Road—Properties of Elko Associates, LC. This agenda item authorizes the purchase of properties located at 1210 and 1227-29 West Little Creek Road. The properties are owned by Elko Associates, LC. The negotiated purchase prices are based on the appraised values of the properties and the owner’s willingness to vacate the premises, at his sole effort and expense. The purchase of these properties is in support of the Wards Corner Plan Task Force recommendations.
These properties are being purchased in support of the Titustown Recreation Center for adjacent parking and the retail businesses along the West Little Creek Road corridor. The closings for the purchase of these properties would occur in two phases. Closing for 1210 West Little Creek Road would occur as soon as possible following Council approval subject to funding appropriated for FY08. Subsequently, closing for the purchase of 1227-1229 West Little Creek Road would occur after July 1, 2008, based on appropriation of funding for the purchase price.
The negotiated purchase prices for the properties are based on the total appraised value of $2,200,000. The agreed purchase price for 1210 West Little Creek Road is $960,000. The purchase price of 1227-1229 West Little Creek Road is $1,440,000, subject to funds to be appropriated for FY09 and available for closing after July 1, 2008.
The purchase of these properties by the City is in support of the Wards Corner Plan. Therefore, it is recommended that the City Council adopt the attached ordinance which authorizes the City Manager to negotiate and execute a Purchase and Sale Agreement and the appropriation of funds to cover the agreed purchase prices and other costs of the transactions.