AGENDA#5c
TO: Mayor and Town Council
FROM: W. Calvin Horton, Town Manager
SUBJECT: Status of Potential Land Acquisition
DATE: February 28, 2000
This report describes the status of negotiations between the Town and Mr. Bill Rogers of AM Properties regarding the acquisition by the Town of the AM Properties land along Bolin Creek, behind Village West, and near Sykes Street. Please see the attached map.
On October 13, 1999, the Greenways Commission, at the request of Village West homeowners, petitioned the Town Council to consider acquiring property that lies along the west side of Tanyard Branch and is currently in the process of development.
On November 22, the Council authorized the Manager to order an appraisal, to initiate negotiations for the Town to purchase some or all of the land and to bring a report to the Council.
The Council considered the issue of the price of these parcels, both in total and in smaller tracts, in closed sessions on January 31 and February 14.
The Council concluded that it has no interest in purchasing any of this land unless the owner agrees to a substantially lower price than he has to date. The owner has declined to do so.