Explanation
1. BACKGROUND
The City of Columbus, Department of Public Service, received a request from Columbus Gaming Ventures, Inc. asking that the City vacate the alley west of Hocking Street from Nationwide Boulevard north to the southern boundary of vacated Brodbelt Street, which bi-sects property currently owned by Columbus Gaming Ventures, in exchange for the dedication of a 1.078 acre tract along the western edge of Tax Parcel Number 010-008443, owned by Columbus Gaming Ventures, and the granting of a 0.537 acre easement to the Division of Power and Water. Vacation of this right-of-way will allow for the future development of property along Nationwide Boulevard currently owned by Columbus Gaming Ventures, Inc. Per current practice, comments were solicited from interested parties, including City agencies, private utilities and the applicable area commission, before it was determined that the City will not be adversely affected by the vacation of this right-of-way. The Department of Public Service submitted a request to the Department of Law, Real Estate Division, asking that they establish a value for this right-of-way. A value of $24,781.00 was established for this right-of-way, but it is the recommendation of the Division of Planning and Operations to vacate this right-of-way, based on upon the above conditions at no cost. After review of the request, the Land Review Commission voted to recommend the above referenced right-of-way be vacated to Columbus Gaming Ventures, Inc. at no cost.
2. FISCAL IMPACT
The City will receive a 1.078 acre tract of land along the western edge of Tax Parcel Number 010-008443 and a 0.537 acre easement granted to The Division of Power and Water, as consideration for the vacation of the requested right-of-way. The value of the property to be received has been determined to be greater than the value of the right-of-way to be vacated.
Title
To authorize the Director of the Department of Public Service to execute ...
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