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Council authorizes acquisition plan for Graham Road project after appraisal review
Summary
Franklin City Council on Feb. 18 approved resolution 26-03 authorizing a property acquisition plan for the Graham Road project; City Attorney Lynn Gray told the council the statute requires two appraisals and council approval when acquisitions exceed $25,000.
The Franklin City Council passed resolution 26-03 on Feb. 18 to approve an acquisition plan tied to the Graham Road project.
City Attorney Lynn Gray explained to the council that state statute requires council approval for city acquisitions when the amount exceeds $25,000 and that the city must provide the council with two appraisals and may not pay more than the average of those appraisals. "There is a statute," Gray said, "when the city acquires property that is in excess of $25,000 that the council must pass a resolution after receipt of 2 appraisals."
Gray said the item is presented because the average of the two appraisals exceeded the $25,000 threshold; she explained that most small strip acquisitions are handled administratively by the Board of Works but large acquisitions come to the council for transparency and compliance with the statute.
After Gray’s explanation, a councilmember moved and a second was made to adopt resolution 26-03; the council approved the resolution by voice vote.
The resolution authorizes staff to proceed with the acquisition plan in accordance with the appraisals and statutory requirements. The city attorney provided copies of the two appraisals to council members as part of the record.
