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4.0 BACKGROUND 4.1 The old Dominion Freight Line parcel is 5.14 acres in size and is located south of the unimproved Iona Lane, east of the unimproved Mount Ridge Road, and adjacent to Cleveland Avenue. The proposal seeks to create a I+ acre lot for the Metro Transit park and ride facility and an undevelopable Outlot with the remained land area. 4.2 Since the Council's approval of the Preliminary Plat on October 13, 2008, the Community Development and Public Works Departments have been working towards creating an acceptable Final Plat. This acceptance has centered on appropriately addressing the Quit Claim Deed (Document No. 1511514) conveyed to the Village of Roseville in 1900. Staff and the Applicant have not agreed on the ownership of the I0 -foot wide strip of land along the north and east sides of the subject parcel. However, in a effort to move the project forward and not risk unnecessary delays to Metro Transit tight timeline and the County Surveyor's insistence that the 10 foot wide strip be shown on the Final Plat as "Public Way", the City and Old Dominion have been working on an agreement that will allow the plat to be recorded. 4.3 The proposal /process includes the City conveying back to Old Dominion the land area described in Document No. 1511514 and specifically effecting Lots 1, 2, 3, and Lot 20, Block B, Twin View in exchange for the a strip of land of the same width and length being identified on the plat as "Public Way". After the plat is recorded the Planning Division would begin the process of vacating the "Public Way" interest in exchange for a roadway easement recorded of the same width and length being recorded with the Ramsey County Recorder. 4.4 A roadway easement would not be placed over Lot 1 of the proposed plat. Instead a dedication of right -of -way will be recorded with the Final Plat that addresses the City's roadway needs adjacent to and part of this specific new lot. 4.5 Please note, these two items /actions are directly linked, therefore the City Council should either approve both items or dent both items. 4.0 The attached VACATION and RE- GRANTING AGREEMENT stipulates all terms and conditions necessary to support the FINAL PLAT. Should the VACATION and RE- GRANTING AGREEMENT not be approved by the City Council, staff would recommend denial of the Final Plat. 5.0 REVIEW OF SUBDIVISION PLAT 5.1 The subject property has been combined into one parcel for tax purposes. The underlying land consists of 0 lots (Lots 1, 2, 3, 15, 19, and 20, Block B, Twin View) , platted in 1925, and the applicant desires to replat the 0 lots into 1 lot and 1 outlot. City Code requires a re- platting when creating new lots. 5.2 Lot 1, Block 1, of the proposed Twin Lakes Addition would be a I+ acre lot for Metro Transit's park - and -ride facility (if approved) . The nearly 4 -acre Outlot will be for a future redevelopment and will require future re- platting in order to allow structures on the premises. 5.3 As indicated above, the City will require a 10 -foot wide right -of -way dedication along the north and east sides of Lot 1 for Iona Lane and Mount Ridge Road. 5.4 Typically, City Code would require a 12- foot -wide utility and drainage easement centered on the outer boundaries of all new lots. However, City Staff has determined that no such easements are necessary on Lot 1. Page 2 of 3