Cuyahoga County is paying more than two times the value for a lot on the east side that’s owned by a local union.
The county is paying $320,000 for the lot at 4205 Chester Avenue. It’s made up of two parcels (104-31-014 and 104-31-011) owned by Bricklayers Local 5. According to the county’s appraisal department, the land has a combined market value $175,000 less than the sale price.
County council approved the purchase at its meeting Tuesday. Councilman Dale Miller explained the lot is needed for 85 new parking spaces.
“Parking is becoming scarcer in this area due to economic development therefore the public works committee, the administration, Councilman Tuma and I strongly recommend passage," said Miller.
The site is around the corner from the child and family services building and a board of elections warehouse. According to the county executive’s office, property values haven’t been updated since 2012. So the union and the county hired private assessors for this deal, and those assessments both put the value above $300,000.