Approval to Sell Property at Glenmont Station to Montgomery County

Transcription

1 Planning, Prgram Develpment and Real Estate Cmmittee Item V-C July 11, 2013 Apprval t Sell Prperty at Glenmnt Statin t Mntgmery Cunty

2 Washingtn Metrplitan Area Transit Authrity Bard Actin/Infrmatin Summary Actin Infrmatin MEAD Number: Reslutin: Yes N TITLE: Apprval t Sell Glenmnt Land PRESENTATION SUMMARY: Mntgmery Cunty wants t acquire apprximately 2.26 acres f unimprved land n the west side f the Glenmnt Metr statin t build affrdable/senir husing PURPOSE: Request Bard apprval t sell apprximately 2.26 acres f land adjacent t the Glenmnt Metrrail Statin West Parking Garage t Mntgmery Cunty DESCRIPTION: Mntgmery Cunty wants t acquire apprximately 2.26 acres f unimprved land n the west side f the Glenmnt Metr statin t build affrdable/senir husing. The land is adjacent t the west parking garage. The Metr Red Line tunnel runs alng the eastern edge f the land. Key Highlights: A 2013 cntract appraisal values the prperty at $2.8M, an increase f $600K frm the 2010 cntract appraisal Metr will retain a permanent easement fr the tunnel in the deed t the Cunty Backgrund and Histry: In Octber 2010, the Metr Bard apprved the sale f apprximately 2.26 acres f unimprved land n the west side f the Glenmnt Metr statin t Mntgmery Cunty The Cunty planned t build a fire statin n the land and t share sme facilities with the planned new west side parking garage t be built adjacent t the fire statin, including parking The parking garage has been built and is perating The Cunty asked fr, and Metr granted, an extensin t the Purchase and Sale agreement in rder t allw the cunty t assess its ptins fr the fire statin Discussin:

3 The riginal Bard apprval was specific t the cnstructin f a Cunty fire statin with shared facilities, the Cunty has determined that an affrdable/senir husing is a mre apprpriate use fr land at a Metr statin. FUNDING IMPACT: Revenue will be depsited int the FY14 Capital Budget in accrdance with FTA Circular D which requires prceeds frm the sale f prperty t be directed t FTA-eligible capital prjects Prject Manager: Kasndra Jhnstn Prject Department/Office: CFO/LAND TIMELINE: Previus Actins Bard apprval f MEAD # Anticipated actins after presentatin Sale f prperty t Mntgmery Cunty RECOMMENDATION: Bard apprval t sell apprximately 2.26 acres f land adjacent t the Glenmnt Metrrail Statin West Parking Garage t Mntgmery Cunty

4 Washingtn Metrplitan Area Transit Authrity Sale f Glenmnt Prperty t Mntgmery Cunty Planning, Prgram Develpment and Real Estate Cmmittee July 11, 2013

5 Purpse Request Bard apprval t sell apprximately 2.26 acres f land adjacent t the Glenmnt Metrrail Statin West Parking Garage t Mntgmery Cunty Glenmnt Metr Statin West Side

6 Backgrund In Octber 2010, the Metr Bard apprved the sale f apprximately 2.26 acres f unimprved land n the west side f the Glenmnt Metr statin t Mntgmery Cunty The Cunty planned t build a fire statin n the land and t share sme facilities with the planned new west side parking garage t be built adjacent t the fire statin, including parking The parking garage has been built and is perating The Cunty asked fr, and Metr granted, an extensin t the Purchase and Sale agreement in rder t allw the cunty t assess its ptins fr the fire statin

7 Prpsed Sale The Cunty nw plans t build affrdable/senir husing A 2013 cntract appraisal values the prperty at $2.8M, an increase f $600K frm the 2010 cntract appraisal Prpsed land sale f 2.26 acres West side entrance and garage

8 Recmmendatin Bard apprval t sell apprximately 2.26 acres f land adjacent t the Glenmnt Metrrail Statin West Parking Garage t Mntgmery Cunty Glenmnt Metr Statin East Side