CC MEETING: March 26, 2020
DATE: March 16, 2020
TO: Erin Rinehart, City Manager
FROM: Tom Hammons, P.E., Interim Director of Engineering
Marc Guy, Assistant City Manager
Title
Consider An Ordinance Authorizing The Abandonment Of Approximately 1.405 Acres Of Right-Of-Way Known As College Avenue, Located Generally Between Capital Drive And Luna Road, North Of Belt Line Road And South Of Capital Parkway; Retaining All Rights To And In The Remaining Right-Of-Way Not Expressly Abandoned.
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BACKGROUND:
Right-of-way for a future connection of College Avenue extends between Capital Drive and Luna Road. This right-of-way is bordered on both sides by property that is owned by Core5 Trade Center at Valwood, LLC. Core5 is developing both properties for commercial warehouses.
In order to better utilize the characteristics of the terrain in those locations, have better access to existing utilities, and avoid encroachment of the 100-year floodplain, Core5 has requested an abandonment of the previous right-of-way alignment and has already dedicated by a subdivision plat a new right-of-way alignment for College Avenue. The new right-of-way is a 60-foot wide right-of-way which will allow for a future collector street, a portion of which has already been constructed by the developer. The Engineering Department has reviewed the new alignment and has deemed it acceptable and in compliance with City Standards.
FINANCIAL IMPLICATIONS:
In consideration for the abandonment of the existing right-of-way of College Avenue, the developer dedicated right-of-way for a new alignment of College Avenue, which will result in a net compensation to the City in the amount of $60,000, based on a fair market value appraisal.
STAFF RECOMMENDATION/ACTION DESIRED:
Staff recommends City Council approval of an ordinance authorizing the City Manager to abandon a portion of the existing right-of-way of College Avenue between Luna Road and Capital Drive.