Regular Council AGENDA ITEM REPORT

To: George Lahanas Subject: Consideration of an offer from Louis Garcia to purchase approximately 0.29 acres

of surplus property at 2773 Coleman Road for $50,000 and authorizing the City Manager to sign a Buy-Sell Agreement For Vacant Land and other documents related to the sale.

Meeting: Regular Council - 07 Sep 2021 Department: Planning, Building, and Development Staff Contact: Thomas Fehrenbach, Director of Planning, Building and Development

BACKGROUND INFORMATION:

In 2019, as part of the project to extend Coleman Road to the west of West Road, the City acquired a parcel at 2773 Coleman Road along with other parcels necessary to facilitate the new roadway. These sales were facilitated by the Clinton County Road Commission using County funds. After the projects completion, A lot split was then effectuated to separate the portion under the public right-of-way from the remaining portion of the lot. At that point the City was left with an oddly shaped parcel of surplus property approximately 0.29 acres in size, which includes a pole barn structure. The City has been aware for some time that the neighboring property owner was interested in purchasing the surplus piece of land. However, in order to ensure that the property was marketed to a broader audience, in July, 2021, staff enlisted the services of NAI Commercial to list the property on the market. NAI was previously selected by the City Council to represent the City on the 27 Acre Parcel currently being marketed for sale at the southwest corner of Coleman and West Roads. The City's agreement with NAI included a commission structure set up to incentivize them to find a buyer other than the neighboring property owner. Marketing materials were created and distributed by NAI, including the attached flyer. Subsequently, an offer to purchase for $32,000 from the neighboring property owner was received on July 26, 2021. A professional appraisal performed in 2019 valued the entire parcel as purchased by the Clinton County Road Commission on behalf of the City at $80,000. Therefore, an analysis of the current parcel on a per-square-foot comparison would indicate a value of approximately $65,000. However, when factoring in the current costs to maintain the property from a landscaping perspective, and the future expected costs related to the demolition of the structure and other property maintenance, a lower price is reasonable. It should also be noted that the parcel, if owned by a private party, will be subject to property taxes. On August 24, 2021, after no additional offers were received, staff suggested that Council may be willing to essentially split the difference and accept an as-is offer of $50,000. The neighboring property owner has agreed to this price. Attached is a Buy and Sell Agreement for Vacant Land for Council consideration that codifies this agreement including standard terms and conditions that were

approved by the City Attorney. After property research, closing costs and a 5% commission to NAI, staff expects the transaction to net the City approximately $45,000. Therefore, staff recommends the following motion: Move that Council accept the offer from Louis Garcia to purchase the Remainder Parcel at 2773 Coleman Road as noted on the attached survey for $50,000 and authorize the City Manager to sign the related Buy and Sell Agreement for Vacant Land and any other documents necessary to close the transaction ATTACHMENTS:

Coleman West Purchase Contract PA partially executed 8-30-21 2273 E Coleman Rd East Lansing flyer Survey- New Parcel after ROW adjustment_

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25. Advice of Counsel. Purchaser acknowledges that the REAL TOR has recommended that Purchaser retain an attorney to passupon the marketability of title, to ascertain that the terms of the sale are adhered to, before the transaction is closed and to advisePurchaser.

26. Environmental.a. Notice to sellers, buyers, landlords and tenants (environmental risks).

Whenever property is acquired or occupied, the buyer incurs some degree of risk with regard to potential environmentalcontamination and/or protected natural resources (wetlands) on the property. Various federal, state and local laws mayimpose liability upon the buyer for the remediation of the contamination even though the buyer did not cause it, or mayrestrict the buyer's ability to fully develop or utilize the property. Such risk can be minimized through the performance ofenvironmental diligence.No real estate broker/salesperson in this transaction possesses the expertise necessary to assess the nature of theseenvironmental risks or to determine the presence of environmental contamination or protected natural resources. The realestate broker/salespersons involved in this transaction do not make independent investigations regarding the presence orabsence, now or in the past, of environmental contamination or wetland determinations. It is therefore prudent for eachparty to this transaction to seek legal and technical counsel from professionals experienced in environmental matters toprovide an evaluation of the environmental risks associated with the transaction.

b. Environmental reports and assessments.l) Seller shall provide copies of any existing Environmental Assessments or reports involving the Property within ten

(10) calendar days after the Effective Date of this Agreement.2) At Purchaser's option, Purchaser shall be given access to the Property during normal business hours to perform D a

Transaction Screen or D a Phase I Site Assessment (individually or collectively the "Environmental Assessment").Purchaser shall pay 100% and Seller shall pay 0% of the cost of the Environmental Assessment. The EnvironmentalAssessment shall be ordered by the D Purchaser D Seller. The Environmental Assessment shall be completed withinforty-five ( 45) calendar days after the Effective Date of this Agreement and shall be certified to Purchaser.

3) If an Environmental Assessment of the Property reveals recognized environmental conditions, then Purchaser shallhave the right to:a) terminate this Agreement within five (5) calendar days after receipt of the Environmental Assessment report; orb) provide Seller with the Environmental Addendum to Buy and Sell Agreement (Seller's refusal to execute the

Environmental Addendum within ten (10) calendar days shall, at Purchaser's option, terminate this Agreement);or

c) proceed with the purchase.4) At Purchaser's option, Purchaser shall be given access to the Property during normal business hours to perform D a

Wetland Delineation or D a Geophysical Report. Purchaser shall pay 100% and Seller shall pay 0% of the cost ofthe studies.

c. Nondisclosure.

If Purchaser exercises its right to terminate this Agreement pursuant to subparagraph b. above, Purchaser shall not disclosethe results of the Environmental Assessment report(s) to any third-party. At Seller's request, Purchaser shall providecopies of any Environmental Assessment report(s) to Seller.

27. By signing below, Purchaser acknowledges having read and received a copy of this Agreement.

Witness: ________________ _

Purchaser's Address: 16825 West Road g,n as you wish your name to appear on the final papers)

Louis Alonzo Garcia

Its: __________________ _

Purchaser(s) Social Security Number(s) or Federal ID Number: Phone: 517-256-6324 ______ Fax: _______ _

E-Mail: ----'='ear"'-"c,.,,ias,,.ltal=m.,_,,s.,.u,.,.e"'d-"-u __________ _

- 5 -iN,\I FormsiColeman ''LLO West VL Buy And Sell Agre�ment DRAFT 8-30-21

date modi tied: I Ot2i20

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NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN,AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE,LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NOWARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN AREINTENDED TO BE IMPLIED

2149 Jolly Road, Suite 200Okemos, MI 48864517 487 9222 telnaimidmichigan.com

2773 E Coleman RoadEast Lansing, Michigan 48823

Property Highlights

Residential parcel of 0.29 acres

At NE corner of Coleman and West Roads

Zoned R3 - Residential

Sold as vacant and includes a small polebarn

Offering Summary

Sale Price: $80,000

Lot Size: 0.29 Acres

Demographics 1 Mile 3 Miles 5 MilesTotal Households 2,158 21,394 48,544

Total Population 4,950 55,954 131,368

Average HH Income $48,763 $61,734 $57,280

For More Information

Dave RobinsonAssociate BrokerO: 517 487 9222 | C: 517 599 6846drobinson@naimidmichigan.com

For Sale0.29 Acres | $80,000Vacant Land

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NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IS MADE AS TO THE ACCURACY OF THE INFORMATION CONTAINED HEREIN,AND THE SAME IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE,LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE, AND OF ANY SPECIAL LISTING CONDITIONS IMPOSED BY OUR PRINCIPALS NOWARRANTIES OR REPRESENTATIONS ARE MADE AS TO THE CONDITION OF THE PROPERTY OR ANY HAZARDS CONTAINED THEREIN AREINTENDED TO BE IMPLIED

2149 Jolly Road, Suite 200Okemos, MI 48864517 487 9222 telnaimidmichigan.com

Population 1 Mile 3 Miles 5 MilesTotal Population 4,950 55,954 131,368

Average age 27.8 29.4 29.8

Average age (Male) 28.8 30.3 29.8

Average age (Female) 26.7 29.0 30.1

Households & Income 1 Mile 3 Miles 5 MilesTotal households 2,158 21,394 48,544

# of persons per HH 2.3 2.6 2.7

Average HH income $48,763 $61,734 $57,280

Average house value $173,489 $195,469 $158,667

* Demographic data derived from 2010 US Census

For Sale0.29 Acres | $275,862 / ACLand Space

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