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File #: 2025-0545    Version: 1 Name:
Type: Resolution Status: Action
File created: 4/2/2025 In control: Board of Commissioners
On agenda: 4/3/2025 Final action:
Title: Commission District(s): All Districts Acquisitions of 4380 Memorial Drive, Decatur, Georgia 30032 (Tax Parcel Nos. 15 251 01 021)

                                    

Public Hearing:  YES      NO                                                   Department: Executive Assistant - Chief Operating Office                                     

 

SUBJECT:

Title

Commission District(s): All Districts

Acquisitions of 4380 Memorial Drive, Decatur, Georgia 30032 (Tax Parcel Nos. 15 251 01 021)

Body

 

Information Contact: Zachery L. Williams, Chief Operating Officer

Phone Number: 404-371-6994

 

PURPOSE:

To approve the acquisitions of 4380 Memorial Drive (Tax Parcels 15 251 01 021) and allocate $18,085,000.00 and associated costs to fund the acquisition of the property. 

 

NEED/IMPACT:

The County will acquire this property which it has been leasing for government office space for 25 years.

 

FISCAL IMPACT:

$18,095,000.00 and associated costs such as due diligence and closing cost.

 

RECOMMENDATION:

Recommended Action

To approve (1) Acquisition of 4380 Memorial Drive, Decatur, Georgia 30032 for $18,095,000.00 and associated costs to fund the acquisition of the property, subject to completion of all due diligence; (2) Authorize the Chief Executive Officer to execute a Purchase & Sale Agreement in a form acceptable to the Interim County Attorney or his designee; (3) Authorize the payment of $540,000 earnest money that is non-refundable ($270,000 at signing of P&S Agreement and $270,000 after due diligence), and (4) Authorize the Chief Executive Officer to execute all necessary documents in connection with completing this real estate transaction.