File #: 2020-1235    Version: 1 Name:
Type: Resolution Status: Action
File created: 10/6/2020 In control: Board of Commissioners
On agenda: 10/27/2020 Final action: 10/13/2020
Title: Commission District(s): 3 & 6 Authorize the exchange of approximately 40.00 acres of land in the County's Intrenchment Creek Park for approximately 52.9 acres of adjacent property owned by Bouldercrest 70, LLC and Blackhall Real Estate Phase II, LLC, affiliates of Blackhall Studios (collectively "Blackhall"); and accept the donation of a number of improvements to be made by Blackhall, valued at an amount of approximately $1,500,000.00.
Attachments: 1. 2020 10.13 Item 2020-1235, 2. Blackhall REEA 2020-10-03 Clean, 3. Blackhall Term Sheet October 6 2020 FINAL

Substitute

Public Hearing:  YES ☐     NO ☒                                                  Department: Chief Executive Office                                     

 

SUBJECT:

Title

Commission District(s): 3 & 6

Authorize the exchange of approximately 40.00 acres of land in the County’s Intrenchment Creek Park for approximately 52.9 acres of adjacent property owned by Bouldercrest 70, LLC and Blackhall Real Estate Phase II, LLC, affiliates of Blackhall Studios (collectively “Blackhall”); and accept the donation of a number of improvements to be made by Blackhall, valued at an amount of approximately $1,500,000.00.

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Information Contact: Zachary L. Williams, Chief Operating Officer

Phone Number: 404-371-2475

 

PURPOSE:

To consider exchanging approximately 40.00 acres of land in the County’s Intrenchment Creek Park for approximately 52.9 acres of adjacent property owned by Blackhall.

 

NEED/IMPACT:

The Real Estate Exchange Agreement outlines the terms of the agreement whereby the County will exchange approximately 40.00 acres of land in the County’s Intrenchment Creek Park for approximately 52.9 acres of real property owned by Blackhall. The Real Estate Exchange Agreement includes a provision requesting Blackhall use its best efforts to ensure that thirty percent (30%) of the construction work for the donated improvements be performed by women and minorities.

 

FISCAL IMPACT:

At this time, there is no cost to exchange real property with Blackhall.

 

RECOMMENDATION:

Recommended Action

(1) Adopt the attached Real Estate Exchange Agreement, dated October 9, 2020, in a form acceptable to the County Attorney or her designee and in compliance with the attached agreement; (2) authorize the Chief Executive Officer to execute the Real Estate Exchange Agreement in a form acceptable to the County Attorney or her designee; (3) authorize the exchange and closing of this transaction; (4) accept the donation of a number of improvements to be made by Blackhall, valued at an amount of approximately $1,500,000.00; and (5) authorize the Chief Executive Officer to execute all necessary documents in connection with completing this real estate transaction.