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Item # 8.

Council Meeting

Meeting Date:	09/08/2020
Department:	Development Services

AGENDA CAPTION:

Consider Action on a Resolution Approving the Sale of 0.4332 Acres of Surplus Right-of-Way at the Southeast Corner of the Intersection of Vitruvian Way and Spring Valley Road, and Authorizing the City Manager to Execute the Special Warranty Deed.

BACKGROUND:

This item seeks the City Council's approval for the sale of 0.4332 acres of surplus Right-of-Way (ROW) at the southeast corner of the intersection of Vitruvian Way and Spring Valley Road to UDR, the adjacent property owner.

Vitruvian Way is a public street that runs through the Vitruvian Park development and terminates at an intersection with Spring Valley Road. In 2011, George H. W. Bush Elementary School was under construction. Planning for the increase in traffic anticipated from the Vitruvian Park Development and to align the street with the driveway of the new school, the Town purchased a small commercial property at the southwest corner of the Vitruvian Way and Spring Valley Road intersection and realigned the road in order to shift the intersection to the west by about 150 feet. While the ROW for the street was extended to the west to encompass the acquired property, the ROW associated with the prior alignment was never abandoned. This resulted in surplus ROW at this intersection beyond what is needed for the street and associated pedestrian improvements. This can be seen in the attached exhibit. It should be noted that the existing public art installation and plaza area will remain within the Town's ROW and will not be impacted by the abandonment.

The approved concept plan for Vitruvian Park assumes that the Town will abandon the surplus ROW to be included in the private development on either side of Vitruvian Way. UDR is currently in the early stages of exploring developing the property at the southeast corner of the intersection. Therefore, the timing is appropriate to formally abandon the surplus ROW and transfer ownership to UDR.

State law stipulates that surplus ROW can be abandoned to the adjacent property owner(s) in exchange for a market rate compensation. In the Fall of 2019, the Town contracted with Pyles Whatley Corporation to appraise the surplus ROW area at both the southeast and southwest corners of the intersection to determine their market value. Pyles Whatley determined that the value of the 0.4332 acres as the southeast corner is valued at $283,080.00. UDR has agreed to pay the Town this amount.

RECOMMENDATION:

Administration recommends approval.

Attachments
Resolution - Special Warranty Deed - Southeast Corner
Property Exhibit