City council votes to buy land for park

Posted by
Mark Beardsley
in Top Stories
Wednesday, April 13. 2011
Comment (1)
After a year of negotiating, the Commerce City Council voted Monday night to purchase 39.2 acres off Smallwood Drive for a future park.

The unanimous vote for the $183,800 expenditure took place after a 10-minute closed session for city attorney John Stell, who has negotiated the purchase for the city, to update the council on the latest developments.

The site is adjacent to 18 acres — 10 of them in a former city reservoir — the city already owns, giving the city almost 60 acres on which to site a park.

The city has no plans to immediately develop the property, Mayor Charles L. Hardy Jr. said.

The property is land that had been foreclosed upon by Chestate State Bank, and in the middle of the negotiating process, the FDIC closed Chestate. The city ultimately reached a settlement with the bank that bought Chestate’s assets from the FDIC.

The original asking price was $340,000, according to Stell. Both sides got appraisals, city manager Clarence Bryant said, and the final offer “was almost an average of the two.”

Funding for the acquisition will come from a grant the city received last year and from special purpose local option sales tax (SPLOST) revenue earmarked for recreation.

“I will submit this offer to the bank,” said Stell, who added that he expects the bank to accept the offer and anticipates a prompt closing.
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#1 Dave In Commerce on 04/16/11 at 01:17 PM [Reply]
More waste of tax payer money.
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