Minutes 11/14/1967 - Laserfiche WebLink

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') '1 .. f> TUESDAY NOVEMBER 14. 1967 In connection with the CLty1s Street Thoroughfare Plan development, particularly the Ells'worth Street segment thereof, Council accepted the offer of the First National Bank of Martinsville & Henry County to deed to the City a strip of its land, seven feet in width, along the west side of Ellsworth Street from East Church Street south along said Ellsworth Street--being the site of the new First National Bank building under construction--in exchange for the City's fifty-foot lot located at 23 (S/S) Ellsworth Street which the bank desires for an employee off-street parking facility. Valuation of these two properties was established as $12,500.()O each by independent appraisors and, also, by the bank and the City. Exchange of these two properties, Council stipulated, would be subject to approval by City A-:,torney Cubine of the deed from the First National Bank yet to be prepared. As a matter of record, during any and all conferences between City officials and officials of the First National Bank concerning the foregoing matters, Councilman W. D. Hartford--being a director of the bank--took no part whatsoever in said conferences; furthermore, as a matter of record, Mr. Hartford withdrew from the meeting covered by these minutes during that portion thereof in which discussion and the foregoing action occurred. In accordance with independent appraisal recently obtained by the City as to valuation, Council accepted the offer of $17,500.00 (cash) from the Piedmont Consumer Corporation (of the Piedmont Trust Bank) for the City1s fifty-foot lot at 17 (S/S) Ellsworth Street, adjoining the south boundary of the Piedmont Trust Bank site at the corner of East Church and Ellsworth Streets. In so doing, Council authorized the executing of deed therefor to Piedmont Consumer Corporation. In both this transaction and that disposing of the property at 23 (S/S) Ellsworth Street, the City reserved a five-foot strip along the front of each lot for future street-widening purposes.