Title
Resolution Approving Appraisal in the Amount of $195,000 and Authorizing Purchase of Property Located at 106 A&B College Road for the West Market Street/College Road Intersection and Sidewalk Project
Body
Department: Engineering & Inspections
Council District: 4
Public Hearing: N//A
Advertising Date By: N/A
Contact 1 and Phone: Kenney McDowell: 373-2302
Contact 2 and Phone: Ted Partrick: 373-2302
PURPOSE:
The Property Management section of the Engineering & Inspections Department is in the process of acquiring right of way and easements for the West Market Street/College Road Intersection and Sidewalk Project. City Council approval is requested for the acquisition of this property.
BACKGROUND:
The Transportation Department has approved Roadway Intersection and Sidewalk Improvement on West Market Street and College Road with construction beginning in 2016. This project will improve the roadway intersection for better traffic flow and improve pedestrian walkways.
The subject property is located at 106 A&B College Road, parcel #0075109. This property is owned by Charles P. and Elizabeth H. Kennedy, and M. Andrew and Susan S. Kennedy. The portion of property to be acquired was appraised by Tonya Brady of McNairy & Associates and was valued at $195,000. The owners have agreed to accept the appraised value.
The property is zoned C-M (Commercial Medium). The required right of way acquisition is an area of 3,537 Sq. Ft. (.08 acre), a Permanent Slope Easement of 260 Sq. Ft., a Permanent Drainage Easement of 22 Sq. Ft., and a Temporary Construction Easement of 2,180 Sq. Ft. (0.05 acres).
BUDGET IMPACT:
Funding in the amount of $195,000 for this acquisition is budgeted in Account #401-4547-01.6012, Activity #A11168.
RECOMMENDATION / ACTION REQUESTED:
The Property Management Section of the Engineering & Inspections Department recommends approval of this acquisition.