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j�.6.�r., _� �..._ _�l11L1 <br />REQUEST �OR CDUNCIL ACTION <br />Date: 03/22/2010 <br />ICem No.: Z3/ e <br />Department Approval <br />City Manager Approval <br />[tEri1 Descriptio«: Consider Acc�uisition of Portions of a Property Located at 18$� – 19I 5 <br />County Road. C WesC <br />I3ACKCR0IJND <br />As part of the T�vin Lakes Phase 2 infrastructure praject, the City is moving for�ard with tlie <br />construction of uti.litj� and road���ay imp��ovements for Twin Lakes Park���ay and Prior Avenue. <br />The City accej�ted a$1 million grant frorn the ]7epartn-►ent of �mployinent an.d Economic <br />Development. In accordance with the grant a�reemeni, the City ir�ust incur costs for this project <br />prior to Decem.ber 31, 2Q10, in orcEer to receive reimht�rsement for thesc activities by the state. <br />The City o�vns ali of the needed right of way wifh the excepti.on of two small pieces—one at the <br />southeast corner of tE�e intersectian of Twin Lakes Parkway and Prior Avenu� and the other at <br />th� northeast corner of the intersection at Prior Avenue and County Road C—tota[ing 1, ] 70 sq, <br />ft. in area. Bath these pieces currently contrall�d by Cobalt Industria.! REIT II, th� owner of 11$5 <br />– i 91 S Cour�ry Road C West. See nttachmcnt A to review the needed right of way. <br />� Staff has contacted Coba�t �c�dt�strial I��IT tI to begin discussion regarding the a.cquisition af <br />portions of its praperty for the T��rin Lal�.cs Phase 2 infeastrueiure project: <br />�OLICY �B.iEC`I I�'E <br />The action being considered wift lead to the conste��ction of infrastructure in the Twin Lakes <br />redeveloptt�ent area. T��in Lakes has lailg been indentified in the Rosevil[e Cornprehensive Plan <br />as an i«�portant redevelopmenc area for the Citj1. C <br />F3UDGE7� In�PI�icATIqNS <br />The cosis for the acc�uisition of the praper�ty needed for the roads and uti�ities and the <br />construction ofthe in.frastructure will come a grants fi'om the ]�epartment of Employment and <br />Econof��ic Develo�ment grant and existing TIF balances. Any City fi�n.ds used ��il� be <br />reeuperated fram d�velopers through the adopted cost a[loca.tion pracess. <br />STAFF RECOMR'iENDATIONS <br />To ensure contral o�the land needed for the Phase 2 infrastructure improvemenis within the <br />grant-requircd tin�eline, sta£f reco�r�mends that the City Council authorize the ac�uisitian, either <br />thro�tgh negotiation or �he use ofq��ic�C-�ake condemnation, o�property at i885 – 191� County <br />�oad C Wesf. <br />Paee 1 of 2 <br />