Sandy Springs has approved the payment of $400,000, which was $100,000 more than the land’s appraised value, to acquire a vacant lot identified in the City Center Master Plan as a future parking lot.
The City Council on Tuesday approved the agreement with W.B. Holdings-Hilderbrand LLC, seller of the 11,850-square-foot tract at 170 Hilderbrand Drive. The land will become parking for the City Springs downtown redevelopment.
The deal closed Monday to meet the current construction schedule for the project, according to City Attorney Wendell K. Willard.
In September, the Council authorized the use of eminent domain to acquire the parcel after the owner rejected a $300,000 offer, but with the understanding that Willard would continue negotiations with the owner to try to reach a purchase agreement.
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