Department
Real Estate and Asset Management
Requested Action
title
Request approval of a Resolution authorizing the acceptance by Fulton County, Georgia of certain leasehold interests held by the Building Authority of Fulton County; of title in fee simple of certain real property owned by the Building Authority of Fulton County; of title in fee simple to all real or personal property, equipment, and assets of any kind, including assets later discovered, from the Building Authority of Fulton County; authorizing the Chairman to execute all documents necessary to effectuate the acceptance of leasehold interests, real property, and any other assets from the Building Authority of Fulton County; authorizing the transfer of a leasehold interest to the City of South Fulton; authorizing the Chairman to execute all documents necessary to effectuate the transfer of a leasehold interest to the City of South Fulton; authorizing the County Attorney to prepare and approve as to form all documents necessary and appropriate to accomplish these transactions; and for other purposes. (APPROVED UPON ADOPTION OF THE CONSENT AGENDA)
body
Requirement for Board Action
Pursuant to Fulton County Code § 1-117, the Fulton County Board of Commissioners has exclusive jurisdiction and control over directing and controlling all the property of Fulton County, as they may deem expedient, according to law
Strategic Priority Area related to this item
Open and Responsible Government
Commission Districts Affected
All Districts ☒
District 1 ☐
District 2 ☐
District 3 ☐
District 4 ☐
District 5 ☐
District 6 ☐
Is this a purchasing item?
No
Summary & Background
Scope of Work: The Department of Real Estate and Asset Management (DREAM) and the Fulton County Department of Finance are seeking approval from the Fulton County Board of Commissioners to accept the assignment of all leasehold interests held in the name of the Fulton County Building Authority, the transfer of real property located at 162 and 166 Mitchell Street SW, Atlanta, Georgia 30303 (Tax IDs 14-0077-0006-058-1 and 14-0077-0006-057-3), and the transfer of any real property and personal property currently held in the name of the Fulton County Building Authority to Fulton County, and the assignment of the cell tower leasehold interest under the cell tower lease agreement located at 4760 Fulton Industrial Boulevard to the City of South Fulton.
A review of the current lease agreements for the cell tower antenna located on fire station properties confirmed the Fulton County Building Authority as the landlord for two leases located at 4760 Fulton Industrial Blvd and 3175 Bethsaida Road. The County previously transferred ownership of the fire station property located at 4760 Fulton Industrial Boulevard to the City of South Fulton, and now wishes to assign the Building Authority’s leasehold interests in the cell tower agreement at that location to the City of South Fulton.
Community Impact: Fulton County’s acceptance of leasehold interests, fee simple title, and all other property interests from the Fulton County Building Authority is required to complete the transfer of all remaining assets of the Building Authority into Fulton County.
Department Recommendation: DREAM recommends approval to accept the leasehold interests for the cell tower lease agreements, fee simple title to real property located at 162 and 166 Mitchell Street SW, Atlanta, Georgia 30303 (Tax IDs 14-0077-0006-058-1 and 14-0077-0006-057-3), as well as any other real or person property, in the name of the Fulton County Building Authority that is now known or may be later discovered.
Project Implications: Approval of the requested real estate transactions are required to complete the sale of the fire station property locate at 4760 Fulton Industrial Blvd to the City of South Fulton and formally confirm the County’s cell tower leasehold interests at 3175 Bethsaida Road, and to allow Fulton County to hold title to real property located at 162 and 166 Mitchell Street SW, Atlanta, Georgia 30303 (Tax IDs 14-0077-0006-058-1 and 14-0077-0006-057-3).
Community Issues/Concerns: None
Department Issues/Concerns: None
Fiscal Impact / Funding Source
Annual rental incomes to be received from the cell tower lease agreement will be deposited into Accounting Line 100-333-3333-5216.