Explanation
1. Background:
The City of Columbus, Department of Public Service, received a request from JMM Real Estate Investments, Inc. asking that the City sell a 0.071 acre parcel of the Kennedy Drive right-of-way, which is adjacent to property owned by JMM Real Estate Investments, Inc. Transfer of this right-of-way will facilitate the re-development of property currently owned by JMM Real Estate Investments, Inc. adjacent to the above noted right-of-way, located at South Lane and Kennedy Drive. 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 these rights-of-way, the City will not be adversely affected by the transfer of these rights-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 these rights-of-way. A value of $3,866.00 was established for this right-of-way. After review of the request, the Land Review Commission voted to recommend the above referenced rights-of-way be transferred to JMM Real Estate Investments, Inc. for $3,866.00.
2. FISCAL IMPACT:
The City will receive a total of $3,866.00 that will be deposited in Fund 7748, Project P537650, as consideration for the transfer of the requested right-of-way.
Title
To authorize the Director of the Department of Public Service to execute those documents required to transfer a 0.071 acre parcel of the Kennedy Drive right-of-way to JMM Real Estate Investments, Inc. which is adjacent to property owned by JMM Real Estate Investments, Inc. located at South Lane and Kennedy Drive.
Body
WHEREAS, the City of Columbus, Department of Public Service, received a request from JMM Real Estate Investments, Inc. asking that the City transfer a 0.071 acre parcel of the Kennedy Drive r...
Click here for full text