Title
A Resolution Authorizing The Acquisition Of Property Owned By Gary M. Moore And Judith E. Moore Pursuant To The Federal Emergency Management Agency's Hazard Mitigation Grant Program (HMGP)
Presenter:
Brian Kelley, P.E., Engineering Program Manager, Water Resources Engineering Division
Body
Summary:
The attached Resolution authorizes staff to acquire a 0.23-acre parcel of land known as 1832 Mt. Washington Avenue owned by Gary M. Moore and Judith E. Moore. The legal description is attached to the proposed Resolution as Exhibit A and a parcel map is attached as Exhibit B. This property is currently uninhabitable due to significant damage caused by the September 2013 flooding.
Previous Council Action:
N/A
Background:
Gary M. Moore and Judith E. Moore are the owners of the 0.23-acre parcel of land known as 1832 Mt. Washington Avenue, Colorado Springs, Colorado 80906 (the "Property"). The structures on the property were substantially damaged during the September 2013 flooding.
The City submitted a grant application in February 2015 to the State of Colorado on behalf of the aforementioned property owners to utilize Federal Emergency Management Agency (FEMA) Hazard Mitigation Grant Program (HMGP) funds for acquisition of the Property.
The total project cost to acquire the property equals $374,391.00, of which the Federal share of $278,280.75 would come from the FEMA HMGP, the State share of $46,380.13 would be provided by the State of Colorado, and the local share of $49,730.12 would be provided by the property owners.
Following Federal, State and City acquisition regulations, the Moores and the City have agreed on a Fair Market Value of $257,500.00 for the Property based on an appraisal conducted by an independent real estate appraiser. Less the aforementioned local share, the acquisition price was determined to be $207,769.88. Applicable laws were followed for this determination. The State of Colorado's FEMA NEPA Environmental Repor...
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