LEGISLATIVE YEAR 2016
RESOLUTION: R-16-050
PURPOSE: Authorizing the sale of surplus Broad Street Parkway property
SPONSOR(S): Mayor Jim Donchess
ASSIGNMENT:
FISCAL NOTE: The revenue realized from the sale of eligible surplus property
must be used for the Broad Street Parkway project.
ANALYSIS
This resolution authorizes the city to sell property and remnants that are no longer needed for the
Broad Street Parkway project or for public use.
The Division of Public Works has offered the following additional information: if the property
was taken by the eminent domain process the city will first offer the property to the original
owner at the purchase price if ten years has not elapsed since the transaction. If that does not
apply, the City will use the property appraisal, along with other data (such as assessed value and
known local market conditions) to determine a target value. Proceeds from eligible properties
purchased with federal funds need to be used for the Broad Street Parkway project. The City is
free to market the parcel as it wishes, and will consider each parcel individually to determine
appropriate marketing. The NHDOT has disposed of their surplus properties by public bidding
and by having a real estate firm market as they would for private properties but recognizing a
minimum acceptable price.
Approved as to form: Office of Corooration Counsel
By: e ay ve a oo
Date: zh 2o/f
