Title
Authorization to Sell a Portion of City-Owned Land and Relinquish a Portion of a Private Easement Located at the Northeast Corner of Central Avenue and Mitchell Drive (Ordinance S-44771)
Description
Request to authorize the City Manager, or his designee, to convey approximately 78.5 square feet of land in fee and relinquish approximately 469 square feet of a private easement to the adjacent property owner, Arc Phoenix Holdings, LLLP. Further request authorization for the City Treasurer to accept all funds related to this item.
Report
Summary
The City has agreed to sell approximately 78.5 square feet of land at the northeast corner of Central Avenue and Mitchell Drive and relinquish approximately 6.9 feet of an 11 foot private easement along the west side of 3501 N. Central Ave. The land and easement are improved with a sidewalk that were never dedicated to public use by ordinance. The reduced sidewalk is necessary to accommodate a proposed 25-story residential project at 3501 N. Central Ave. The buyer is required to pay for the land, easement, and all site improvements based on appraised value. The conveyance of land by Special Warranty Deed and extinguishment of a portion of the easement by Quit Claim Deed is subject to approval by the Federal Transit Administration (FTA).
Financial Impact
The property was acquired with FTA funding which requires reinvestment of the proceeds into the City's public transit system.
Location
Northeast corner of Central Avenue and Mitchell Drive
Council District: 4
Department
Responsible Department
This item is submitted by Deputy City Manager Mario Paniagua and the Public Transit and Finance departments.