Explanation
1. BACKGROUND
The City of Columbus, Department of Public Service, received a request from Continental Real Estate Companies, on behalf of 1421 O.R.R. Realty, LLC. (The Company) and current owner is asking that the City transfer a 0.190 acre parcel of the Olentangy River Road right-of-way adjacent property owner by The Company located at 1421 Olentangy River Road. The Company plans to construct a hotel on the property, and this parcel is necessary to meet required zoning requirements for parking and setbacks. Per current practice, comments were solicited from interested parties, including City departments, private utilities and applicable area commissions, 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 proposed transfer to The Company. 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 $19,862.40 was established for this right-of-way. After review, the Land Review Commission voted to recommend that the above referenced right-of-way be transferred to The Company for $19,862.40.
2. FISCAL IMPACT
The City will receive a total of $19,862.40, to be deposited in Fund 748, Project 537650, as consideration for the transfer of the requested 0.190 acre parcel of the Olentangy River Road right-of-way.
3. EMERGENCY JUSTIFICATION
The adjacent property owner has voiced their desire to commence construction immediately; therefore they are requesting that the City expedite the transfer of this right-of-way.
Title
To authorize the Director of the Department of Public Service to execute those documents required to transfer a 0.190 acre parcel of the west side of Olentangy River Road right-of-way to the adjacent property owner located at 1421 Olentangy River Road; and to declare an em...
Click here for full text