Explanation
1. Background:
The City of Columbus, Department of Public Service, received a request from Frank Sasso on behalf of The Gravity Project 3, LLC, to sell an approximate 7,200± square foot portion of the unnamed 16 foot alley right-of-way. This portion of right-of-way is abutted to the south and west by parcel 010-050085, to the north by parcel 010-021196, to the west by parcel 010-000899, and to the east by parcel 010-057684. It runs north/south directionally and is between May Avenue and McDowell Street and totals 0.155 acres.
Sale of this right-of-way will allow The Gravity Project 3, LLC to develop a mixed use building that will span the alley. The Gravity Project 3, LLC will use this additional space in conjunction with its currently owned parcels for the new development. The Department of Public Service has agreed to sell the right-of-way as described and shown within attached legal description and exhibit, and extinguishes its need for this public right-of-way.
Per current practice, comments were solicited from interested parties, including City agencies, private utilities and the applicable area commission, before it was determined that, subject to the retention of a general utility easement for those utilities currently located within this right-of-way, the City will not be adversely affected by the transfer of this right-of-way. The Department of Public Service submitted a request to the City Attorney’s Office, asking that they establish a value for this right-of-way, and a value of $142,126.32 was established. This request went before the Land Review Commission on September 15, 2022. After review of the request, the Land Review Commission voted to recommend the above referenced right-of-way be transferred to The Gravity Project 3, LLC at the cost of $142,126.32.
2. FISCAL IMPACT:
The Department of Public Service will receive a total of $142,126.32 and the funds are to be deposited in Fund 748, Project 537650, as consideration for th...
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