It is recommended that the City Council:

1.  Authorize the acquisition of approximately 1.35 acres of land located at 1616 Hemphill Street from Piedmont Hemphill Partners, LP, in the amount of $1,400,000.00 plus $12,424.00 for estimated closing costs, for the expansion of Fire Station Park;

2.  Authorize the execution and recording of the appropriate instruments; and

3.  Accept and dedicate the property as parkland upon conveyance to be added to Fire Station Park.

Although Fire Station Park is classified as a community-based park, its current size 1.70 acres limits the level of programming opportunities that are available. As a result of strong neighborhood support for the purchase of additional park land, viewed as a catalyst for revitalizing the Hemphill corridor, Staff recommends acquiring the approximate 1.35 acres of land located at 1616 Hemphill Street from Piedmont Hemphill Partners, LP, for the expansion of Fire Station Park. Acquisition and inclusion of the adjacent property will increase programming options available to help meet an underserved need in this sector of the City.

The Southside TIF 4 has agreed to fund the acquisition. The City will allocate up to $200,000.00 from the Park Dedication Fees Funds (M&C G-18721) to cover any additional costs associated with the land acquisition process, preparation of a Fire Station Park Master Plan and Phase I development of the site. The City will also assume the maintenance and operation of the property including any and all improvements thereon. An independent appraisal was conducted and the property owner has agreed to the purchase price.  The real estate taxes will be pro-rated with the sellers being responsible for taxes due up to the closing date.  The mineral estate will not be acquired. The deed will contain a surface waiver for the exploration of the mineral estate.

The property will remain undeveloped park open space until improvements are constructed. The annual cost to maintain this undeveloped parkland is estimated to be $800.00. When this portion of the park is developed, additional funding will be requested for maintenance operations of the added facilities and the resultant increase in use.

ADDRESS	LEGAL DESCRIPTION	ACQUISITION TYPE	PARCEL  SIZE	PURCHASE PRICE
1616 Hemphill	Block S, Lot 1R, Bellevue Hill Addition	Warranty Deed	1.35 Acres	$1,400,000.00
			ESTIMATED CLOSING COSTS	$12,424.00
			TOTAL	$1,412,424.00

This property is located in COUNCIL DISTRICT 9, Mapsco 364 A3.