Title
Incorporated County Of Los Alamos Ordinance No. 02-275; An Ordinance Authorizing The Sale Of Certain County-Owned Real Property To Site A-19-A-1 Acquisition Group, LLC.
Recommended Action
I introduce, without prejudice, Incorporated County Of Los Alamos Ordinance No.02-275; An Ordinance Authorizing The Sale Of Certain County-Owned Real Property To Site A-19-A-1 Acquisition Group, LLC and ask staff to assure it is published as provided in the County Charter.
Manager's Recommendation
The County Manager recommends that Council introduce this Ordinance as requested.
Body
This Ordinance authorizes the sale of County-owned property located on the A-19-A site located approximately on the North side of New Mexico State Road 4, between the intersections of Sherwood Boulevard and New Mexico State Road 4 on the east and La Vista Boulevard and New Mexico State Road 4 on the West.
Tract A-19-A-2 is generally described to encompass the eastern portion of A-19-A and consists of approximately 34 acres. The parcel that is proposed to be sold to the buyer is approximately 12.76 acres. The property was included in a bulk parcel of land that was transferred from the DOE to Los Alamos County in the fall of 2002. Tract A-19-A was subdivided into two separate Tracts in 2013 by the County in support of the development plan envisioned under the A-19 Master Plan and White Rock Master Plan and Economic Development Strategy. The result of that Subdivision included A-19-A-1, which was zoned R-1-5 Residential and A-19-A-2 which was zoned DT-NCO, Neighborhood Center Overlay Zone.
The buyer for this parcel is the Site A-19-A-1 Acquisition Group, LLC, which has also entered into a Development Agreement with the County to develop A-19-A-1. The principals of Site A-19-A-1 are Scott Grady, Chairman and Founder of Raylee Homes and C. Adam Thornton, the Principal of Cascade Creek Holdings, LLC.
The Development Agreement (attached to the Ordinance) outlines the details of the development of A-19-A-2, which will involve the development of all on-site utilities, roadways and other infrastructure to serve the site, along with 53 residential single family lots on approximately 11.148 acres. The developer will bring a proposed site plan to the County within 60 days of closing for the remaining 1.48 acres of the site development. The proposed project scope is shown on Exhibit C “Concept Plan”.
Council is authorized to sell county-owned real property and interests in real property through Chapter 14 of the Los Alamos County, New Mexico - Code of Ordinances. An appraisal dated April 4, 2017 estimated the market value of Tract A-19-A-2 to be $460,000 for the entire tract, including both the proposed residential use and the 1.48 acres of mixed use/commercial. the proposed purchase price for the site is $460,000 and the proposed terms of the sale are outlined within the Purchase and Sale Agreement attached to the Ordinance.
Alternatives
One alternative is to not approve the sale to Site A-19-A-1 Acquisition Group, LLC.
Attachments
A - Ordinance No.02-275
B - Purchase and Sale Agreement
C - Development Agreement