Council
Communication

Office of the City Manager
 
 

Date

December 17, 2007

 

Agenda Item No.       46

Roll Call No.              07-

Communication No.  07-745

Submitted by:  Jeb E. Brewer, P.E.

                          City Engineer

 

 

AGENDA HEADING:

 

Hearing on vacation and conveyance of an air space easement above Park Street, between 7th Street and vacated 8th Street, to Principal Life Insurance Company for $594.

 

 

SYNOPSIS:

 

Approval for vacation and conveyance of such property to Principal Life Insurance Company, an Iowa corporation, Ted Brackett, 2nd Vice President Corporate Real Estate, 711 High Street, Des Moines, Iowa, 50392-001, for $594.  This action is required by Iowa law prior to making a final determination on the proposed sale by resolution.  There is no current or anticipated public need for this property.

 

 

FISCAL IMPACT:

 

Amount:  $594 (Revenue)

 

Funding Source:  2007-08 Operating Budget, Page 259, Property Maintenance, SP767

 

 

ADDITIONAL INFORMATION: 

 

On August 6, 2007, by Roll Call 07-1508, the City Council adopted a recommendation from the City Plan and Zoning Commission to vacate and convey an air space easement to allow for a private enclosed pedestrian sky bridge between a proposed new parking structure north of Park Street and Principal Life Insurance Company’s office building south of Park Street, so long as it is limited to a 16 foot wide strip at least 23 feet above grade. 

 

Principal Life Insurance Company plans to use this air space easement to construct an enclosed skywalk between the nine-story parking ramp they are building north of Park Street and their existing office building south of Park Street. 

 

The air space consists of approximately 1,188 square feet.  Principal Life Insurance Company has submitted an offer of $594 to purchase the above referenced Easement for Use of Air Space, which is equal to the fair market value for the air rights to be conveyed.      

 

 

PREVIOUS COUNCIL ACTION(S):

 

Date:  December 3, 2007

 

Roll Call Number:  07-2298

 

Action:  On vacation and conveyance of air space easement above Park Street, between 7th and vacated 8th Street, to Principal Life Insurance Company, $594, (12-17-07).  Moved by Hensley to adopt.  Motion Carried 7-0.

 

Date:  August 6, 2007

 

Roll Call Number:  07-1508

 

Action:   Communication from Plan and Zoning Commission regarding request for vacation and conveyance of the air rights, to allow for a private enclosed pedestrian sky bridge between a proposed new parking structure north of Park Street and the existing Corporate 4 Office Building south of Park Street, (limited to a 16’-wide strip at least 23’ above grade).  Moved by Vlassis to receive and file, and refer to the City Manager for implementation in accordance with the City’s standard property disposition procedures.  Motion Carried 7-0.

 

 

BOARD/COMMISSION ACTION(S): 

 

Date:  July 19, 2007

 

Roll Call Number:  City Plan and Zoning Commission

 

Action:  Approved request for vacation and conveyance of air rights above Park Street between 7th Street and vacated 8th Street, so long as it is limited to a 16’ wide strip at least 23’ above grade.

 

 

ANTICIPATED ACTIONS AND FUTURE COMMITMENTS:  NONE