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| DATE:
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6/16/2015 7:00:00 PM |
| SUBJECT: |
| Council Consideration of an Offer to Acquire Land to Expand the Boxelder Right of Way from H & H Development Inc., for $125,968.00 and other Considerations. |
| BACKGROUND: |
| Staff has been in negotiations with H & H Development Inc., (H & H) the developers of the Ruby Tuesday property, to acquire some additional land to expand the right of way for Boxelder to reduce the curve West of Highway 59. The attached offer sets the price of the right of way at $6.00 per square foot for a total price of $125,968 for roughly 20,828 square feet. H & H has purchased all of Lot 6A, Block 1 of the Homestead Addition and has recently completed a subdivision, dividing the property into several lots, including Lot 6C, which is the parcel subject to this offer. In addition to the cash consideration, this Offer also obligates the City to install whatever temporary and permanent traffic control devices it deems necessary at the intersection of East Boxelder Road and the North entrance to the Homestead Addition, between Lots 6A and 6B of Block 1 of the Homestead Addition. The Parties recognize that the construction on the commercial lots will be completed before the construction of Boxelder and for that reason have agreed that H & H may construct an access through Lot 6C and use it to access Boxelder until the road is constructed. Once Boxelder is constructed, H & H will have an access onto the reconstructed Boxelder. A copy of the Offer is attached along with its exhibits which show the right of way parcel, the newly approved subdivision which places the right of way parcel into a lot and a copy of the development plan which shows the approximate location of the access onto Boxelder across the lot created for the right of way. |
| SUGGESTED MOTION: |
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I move for the Approval of an Offer to Acquire Land to Expand the Boxelder Right of Way from H & H Development Inc., for $125,968.00 and other Considerations.
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| STAFF REFERENCE: |
MAP/VIDEO
Charlie Anderson, City Attorney |
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