Explanation
1. Background:
The City of Columbus, Department of Public Service, received a request from Franklin University, asking that the City sell a 0.563 acre portion of the north/south right-of-way west of Grant Avenue between Rich and Main Streets. Transfer of this right-of-way will allow for the resolution of a number of title issues relating to property currently owned by Franklin University, adjacent to the above noted 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 Department of Law, Real Estate Division, asking that they establish a value for this right-of-way. A value of $135,300.00 was established for this right-of-way. Franklin University had submitted a request for the mitigation of the cost of the aforementioned right-of-way. After review of the request, the Land Review Commission voted to recommend the above referenced right-of-way be transferred at no cost to Franklin University.
2. FISCAL IMPACT:
N/A
Title
To authorize the Director of the Department of Public Service to execute those documents required to transfer to Franklin University a 0.563 acre portion of the north/south right-of-way west of Grant Avenue between Rich and Main Streets, adjacent to property owned by Franklin University.
Body
WHEREAS, the City of Columbus, Department of Public Service, received a request from Franklin University asking that the City transfer a 0.563 acre portion of the north/south right-of-way west of Grant Avenue between Rich and Main Streets, adjacent to property owned by Franklin University, to them; and
WHEREAS, acquisition of this right-of-w...
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