Public Hearing: YES ☐ NO ☒ Department: Watershed Management
SUBJECT:
Title
Commission District(s): 5 and 7
Real Estate Exchange Agreement between Dekalb County, D.R. Horton, Inc. and D.R. Horton - Crown, LLC
Body
Information Contact: Reginald Wells, Director, Department of Watershed Management
Phone Number: 770-621-7208
PURPOSE:
The Department of Watershed Management plans to exchange 8.548 acres that the county currently owns for 52.967 acres owned by D.R. Horton.
NEED/IMPACT:
DWM will purchase the additional property and use the land as a conservation easement to permanently provide a buffer for odor and noise to benefit the community and the local residents.
FISCAL IMPACT:
The cost to purchase the 52.967 acres located in Land Lot 71 of the 16th District of DeKalb County is $482,900.00. This amount represents the difference in the appraised values of the two properties. The current value of the county’s land is $94,000.00 and the appraised value of the D.R. Horton Property is $576,900.00.
RECOMMENDATION:
Recommended Action
Department of Watershed recommends approving the Real Estate Exchange Agreement and allowing the Chief Execute Officer to execute the same.