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Date |
May 22, 2006 |
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Agenda Item No. 17 Roll Call No. 06- Communication No. 06-299 Submitted by: Jeb E. Brewer, P.E., City Engineer |
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AGENDA HEADING:
Resolution Establishing Fair Market Value and Authorizing Acquisition of Property Located at 2930 East University Avenue for the East 30th Street and State Avenue Intersection Realignment Project by Gift, Negotiation, or Condemnation.
SYNOPSIS:
Approval of fair market value and authorization to acquire the necessary property interests by gift, negotiation, or condemnation for the East 30th Street and State Avenue Intersection Realignment Project. This action is required under Iowa condemnation law, prior to making an offer to purchase property interests for public improvement projects.
FISCAL IMPACT:
Amount: $ ____________ (This amount is a third-party independent appraisal and will not be available until the day of the council meeting and will be shown on the resolution. An amended Council Communication will be sent out on Monday.)
Funding Source: 2006-07 CIP, Street Improvements, Accent Neighborhood Intersection Improvements, East 30th Street and State Avenue Intersection Realignment, STR132, Page 4.
ADDITIONAL INFORMATION:
The East 30th Street and State Avenue Intersection Realignment Project will redesign E. 30th Street to curve directly into State Avenue. This will improve traffic flow and develop a more desirable route for through traffic, which is currently utilizing residential streets.
This action establishes fair market value and authorizes acquisition of a portion of the property located at 2930 East University by gift, negotiation, or condemnation as part of the above-referenced project. East University Drugstore, L.C., Timothy C. Hogan, Registered Agent, is the current owner of the property. The appraised value of the subject property is based on a third-party independent appraisal.
PREVIOUS COUNCIL ACTION(S):
Date: August 22, 2005
Roll Call Number: 05-2046
Action: Authorization to proceed and acquire right-of-way for the E. 30th Street and State Avenue Intersection Realignment. (Council Communication No. 05-474) Moved by Hensley to adopt. Motion Carried 7-0.
BOARD/COMMISSION ACTION(S): NONE
Date:
Roll Call Number:
Action:
ANTICIPATED ACTIONS AND FUTURE COMMITMENTS: NONE