Explanation
1. Background
In 1928 and 2002, pursuant to Ordinance 38801 vacating one alley, and Ordinance 1713-02 transferring the other portion of right-of-way and a Quitclaim Deed within instrument number 200302260056410 in Franklin County and subject to a general utility easement.
The Department of Public Service recently received a request from the property owner Gravity Project 3 Holdings, LLC, asking that the City release this easement over the property they own within this area to clear title, so the site can complete a redevelopment. These two areas are the first two alleys south of Broad Street and between May Avenue and McDowell Street. After receiving this request, the Department of Public Service Division of Infrastructure Management verified with all public and private utility companies that there are no public utilities or need for this easement, located within the requested area, and that they have no objections to this portion of easement being released.
The following legislation authorizes the Director of the Department of Public Service to execute those documents necessary to release these easements as described below and within the attached exhibit, to allow for the property to clear title, so the site can be redeveloped.
2. Fiscal Impact
The City will receive a total of $500.00, to be deposited in Fund 7748, Project P537650, for granting the request to release the easements.
3. EMERGENCY DESIGNATION
Emergency action is requested to allow the necessary property closings to occur within the next few weeks on this Parcel. This will allow the redevelopment of this Parcel, which is part of new build mixed-use development, and to alleviate the applicant's lender restricting project funds until these easements are resolved.
Title
To authorize the Director of the Department of Public Service to execute those documents necessary to transfer two portions of right-of-way located at the first two alleys south of Broad Street and between May Avenue...
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