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HomeMy WebLinkAboutResolutions R25-07-744 - 07/21/2025 - Reimburse the Capital Projects Fund with Greenspace Bond Funding regarding Properties Acquired on Hopewell RoadSTATE OF GEORGIA COUNTY OF FULTON RESOLUTION NO . R25-07 -744 A RESOLUTION TO REIMBURSE THE CITY OF MILTON 'S CAPITAL PROJECTS FUND WITH GREENSPACE BOND FUNDING REGARDING PROPERTIES ACQUIRED ON HOPEWELL ROAD WHEREAS , in November 2016 , City of Milton (the "City") voters passed a bond for greenspace land acquisition; and WHEREAS , on February 28 , 2023 , the City closed on its acquisition of Ta x Parcel Number ("TPN") 22-4770-0909-008-9 , TPN 22 -4780-0964-091-5, and TPN 22 -47 80-0964 -092- 3, total ing approximately 34.40 acres (the "Bates Property"), using capital projects/impact fee funds to cover the overall purchase price of $3,500,000 .00; and WHEREAS , on April 24 , 2023 , the City closed on its acquisition of TPN 22 -4770-0909- 048-5 , totaling approximately 4.86 acres (the "Hud son Property"), using capital projects/impact fee funds to cover the purchase price of $1,400,000.00; and WHEREAS , the Bates Property and the Hudson Property abu t the City's Prov idence Park property and were initial ly acquired anticipating future development of active park space; and WHEREAS , the City Council has since decided that the Bates Property and the Hudson Property wo uld be better utilized as additional greenspace to be preserved as such for the pub lic and secured under the protections of the City's Greenspace Bond Program consistent with its inte nded purpose of land preservation and public benefit (see Minutes of City Co u ncil Regular Meeting, May 19 , 2025, Agenda Ite m No . 25-134); and WHEREAS , in order to transfer the Ba tes Property and the Hudson Property under the protections of the City's Greenspace Bond Progra m, it is appropriate that Greenspace Bond funds are utilized to afford the acquisition of those properties ; and WHEREAS , there are sufficient unallocated Greenspace Bond funds available to reimburse the City's Capital Projects Fund for the amounts spen t purchasing the Bates Property and the Hudson Property in the total amount of $4,900,000.00. BE IT THEREFORE RESOLVED , that the City Council hereby directs City staff to make the appropriate fun d transfer of $4,900,000 .00 from the Greenspace Bond fund into the Capital Projects Fund for the purpose s sta ted hereinabove. SO RESOLVED this 21 st day of July 2025.