Reference No. CR-035-2021    Draft No. 1
Type: Resolution Status: Adopted
Meeting Body County Council
Meeting Date 4/27/2021
Introduced Date 3/30/2021 Public Hearing Date 4/27/2021 @ 10:00 AM
Effective date: 4/27/2021    
Title: A RESOLUTION CONCERNING RELEASE OF COUNTY REVERSIONARY INTEREST IN REAL PROPERTY for the purpose of authorizing the County Executive to release reversionary interest to previously County-owned property, hereby referred to as Ardmore Enterprises Property.
Proposers/Sponsors: County Executive, Calvin S. Hawkins, Rodney C. Streeter, Jolene Ivey, Sydney J. Harrison, Derrick Leon Davis, Deni L. Taveras
Attachments: 1. R2021035, 2. CR-035-2021 Attachment A, 3. CR-035-2021 Attachment B, 4. CR-035-2021 AIS, 5. CR-035-2021 AIS, 6. CR-35-2021 Report, 7. CR-035-2021 Transmittal, 8. CR-035-2021 Fiscal & Policy Note, 9. CR-35-2021 OOL Comments
Contact: Amanda S. Denison, Office of Law

Title

A RESOLUTION CONCERNING RELEASE OF COUNTY REVERSIONARY INTEREST IN REAL PROPERTY for the purpose of authorizing the County Executive to release reversionary interest to previously County-owned property, hereby referred to as Ardmore Enterprises Property.

 

Background

The County sold Ardmore Enterprises Property in 1974 and retains a reversionary interest.  The Owner seeks to sell the property to a party other than the County, thereby activating the reversionary clause.  The County Executive plans to authorize the release of the reversionary clause and any other future ownership interest in Ardmore Enterprises Property. Since the County does not currently own said property, the authorization of release and subsequent sale or disposition is not subject to Section 2-111.01 of the Prince George’s County Code.



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