SUBJECT: Ordinance authorizing the abandonment and sale of: 1) a portion of a 10-foot-wide water line easement and 2) a portion of a 20-foot-wide sanitary sewer easement, in exchange for conveyance to the City of: 1) a 20-foot-wide water line easement, 2) a 100-square-foot fire hydrant easement, and 3) a 25-foot-wide sanitary sewer easement, all located within Block 1, Unrestricted Reserve A of Willowbrook Mall, out of the G. W. Childress Survey, A-217. Parcels SY15-092A, SY15-092B, KY15-172, KY15-173, and DY15-101.
RECOMMENDATION: (Summary) It is recommended City Council approve an Ordinance authorizing the abandonment and sale of: 1) a portion of a 10-foot-wide water line easement and 2) a portion of a 20-foot-wide sanitary sewer easement, in exchange for a consideration of $3,000.00 plus conveyance to the City of: 1) a 20-foot-wide water line easement, 2) a 100-square-foot fire hydrant easement, and 3) a 25-foot-wide sanitary sewer easement, all located within Block 1, Unrestricted Reserve A of Willowbrook Mall, out of the G. W. Childress Survey, A-217. Parcels SY15-092A, SY15-092B, KY15-172, KY15-173, and DY15-101.
SPECIFIC EXPLANATION: By Motion 2015-0206, City Council authorized the subject transaction. The property owner, Willowbrook Mall, LLC, (Andrew Massman, Vice President), plans to construct a new retail facility in the location of the proposed abandonment.
Willowbrook Mall, LLC, has completed the transaction requirements, has accepted the City's offer, and has rendered payment in full.
The City will abandon and sell to Willowbrook Mall, LLC:
Parcel SY15-092A
4,151 square feet of water line easement $58,633.00 (R)
Valued at $14.125 per square foot
Parcel SY15-092B
5,569 square feet of sanitary sewer easement $78,662.00 (R)
Valued at $14.125 per square foot
Total Abandonment and sale $137,295.00
In exchange, Willowbrook Mall, LLC, will pay:
Cash $3,000.00
Plus convey to the City
Parcel KY15-172
10,371 square feet of water line easement $146,490.00 (R)
Valued at $14.125 per square foot
Parcel KY15-173
100 square feet of fire hydrant easement $2,825.00
Valued at $28.25 per square foot
Parcel DY15-101
7,086 square feet of sanitary sewer easement $100,090.00 (R)
Valued at $14.125 per square foot
TOTAL CASH AND CONVEYANCE $252,405.00
Inasmuch as the value of the $3,000.00 minimum fee plus the easements being conveyed to the City is greater than the value of the easements being abandoned and sold, it is recommended City Council approve an Ordinance authorizing the abandonment and sale of: 1) a portion of a 10-foot-wide water line easement and 2) a portion of a 20-foot-wide sanitary sewer easement, in exchange for a consideration of $3,000.00 plus conveyance to the City of: 1) a 20-foot-wide water line easement, 2) a 100-square-foot fire hydrant easement, and 3) a 25-foot-wide sanitary sewer easement, all located within Block 1, Unrestricted Reserve A of Willowbrook Mall, out of the G. W. Childress Survey, A-217.