Title
Request to Negotiate the Sale of Embury Road, Grand Blanc Twp, MI property
Body
Agenda of: April 11, 2018
Item No.: 2018-681
Amount: N/A
TO: The Honorable
Board of Directors
Great Lakes Water Authority
FROM: Randal M. Brown, General Counsel
DATE: March 26, 2018
RE: Request to Negotiate Sale of Embury Road, Grand Blanc Twp, MI Property
MOTION
Upon recommendation and opinion of Randal M. Brown, General Counsel, the Legal Committee for the Great Lakes Water Authority (GLWA):
1) Recommends to the Board that the General Counsel negotiate the sale of vacant property on Embury Road, Grand Blanc Township.
JUSTIFICATION
This vacant property in Grand Blanc Township is no longer needed by Water Operations. Based on information and belief, the neighboring property owner seeks to purchase the property for $325,000. This is more than DWSD’s purchase price in 2009 and is reasonable in consideration of a recent property appraisal. Pursuant to the Regional Water Supply System Lease and the Master Bond Ordinance, GLWA has the right to sell Leased Water Facilities that it no longer needs to support the service to wholesale customers.
BUDGET IMPACT
To be determined upon the closing and consultation with Bond counsel.
COMMITTEE REVIEW
The Legal Committee reviewed details of the proposed transaction on March 28, 2018. The Legal Committee unanimously recommended that the GLWA Board adopt the resolution as presented.
SHARED SERVICES IMPACT
There is no impact on the Shared Services Agreement.