Explanation
1. Background:
The City of Columbus, Department of Public Service, received a request from Chavez Long Street Investors asking that the City transfer a portion of the unnamed east/west right-of-way, south of Lafayette Street between North 5th and Neilston Streets, and a portion of the unnamed north/south right-of-way between Lafayette and Long Streets, totaling 4,046 square feet, which is adjacent to property owned by Chavez Long Street Investors. Transfer of these rights-of-way will facilitate the re-development of property currently owned by Chavez Long Street Investors adjacent to the above noted rights-of-way, located at 156 North 5th Street, which will consist of a mixed use, multi-story facility. The Department of Public Service has agreed to transfer these rights-of-way as described in the attached exhibit and extinguish the underlying fee. 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 $60,765.00 was established for these rights-of-way. This request went before the Land Review Commission on January 18, 2018. After review of the request, the Land Review Commission voted to recommend the above referenced rights-of-way be transferred to Chavez Long Street Investors for the amount of $60,765.00.
2. FISCAL IMPACT:
There is no cost to the City for this transaction. The City will receive a total of $60,765.00 that will be deposited in Fund 7748, Project P537650, as consideration for the transfer of the requested right-of-way.
Emergency Justific...
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