Explanation
BACKGROUND: The City of Columbus, Department of Public Service, received a request from 85 North High Street, LLC asking that the City transfer a 0.142 acre portion of the Elm Street right-of-way west of North High Street and east of Wall Street. Transfer of this right-of-way will permit future economic development on the adjacent property owned by 85 North High Street, LLC. 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, for the purpose of establishing a value for this right-of-way. A value of $61,780.00 was established for this right-of-way based upon the reservation of general utility easement. On June 23, 2016, the Land Review Commission unanimously approved the request of 85 North High Street LLC to acquire, at no cost, an approximately 6,187 square foot (0.142 acres) section of Elm Street between North High Street and Wall Street, subject to reservation of a general utility easement. This recommendation for full cost mitigation was made in recognition of the applicant’s commitment to provide public parking under the terms of a pending Economic Development Agreement.
FISCAL IMPACT: There is no fiscal impact associated with this legislation.
EMERGENCY DESIGNATION: This legislation is submitted as an emergency measure in order to enable the Director of the Department of Public Service to execute those documents required to transfer a portion of the Elm Street right-of-way to 85 North High Street, LLC in order to allow 85 North High Street, LLC to meet related public parking commitments outlined in a pending Economic Develo...
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