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HomeMy WebLinkAbout96-09 RESOLUTIONRESOLUTION NO. 96-09 A RESOLUTION TO AUTHORIZE THE CITY ATTORNEY TO SEEK CONDEMNATION OF PROPERTY AT 70 NORTH COLLEGE AVENUE OWNED BY OZARK THEATRE LIMITED PARTNERSHIP WHEREAS, the City of Fayetteville needs to acquire a permanent sidewalk easement varying in width from 3.6 feet to 4.3 feet as well as a 10 foot temporary construction easement (less and except the building footprint) along College Avenue at 70 North College to complete a large portion of the College Avenue Improvement Project; and WHEREAS, all necessary easements from Rock Street to Lafayette have been obtained except for 70 N. College Avenue. NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS* Section 1: That the City Council of the City of Fayetteville, Arkansas hereby authorizes the City Attorney to seek condemnation of the necessary easements along 70 N. College and do all things necessary to obtain legal possession and ownership from Ozark Theatre Limite4,,,,n,,n Partnership of those construction and permanent easements. ................. .4 •FAYETTEVILLE: ATTEST: it t;; 9` • :�` - �V(5�.'QKANsp�. By C By LI 1 ELD JO AN, Mayor SO RA E. ITH, City Cler r a urerJ PASSED and APPROVED this 2141 day of April, 2009. APPROVED: Chris Brown Submitted By City of Fayetteville Staff Review Form City Council Agenda Items and Contracts, Leases or Agreements 4/21/2009 City Council Meeting Date Agenda Items Only Engineering Division Action Required: Res 18-1 161- °14-07 Ozark- -Mutt LP Cot ( Development Services Department Approval of a Resolution authorizing the City Attorney to seek condemnation and possession of certain lands owned by the Ozark Theatre Limited. Partnership, LLLP that are necessary for the College Avenue Improvements Project. 5,000.00 Cost of this request 4520.9520.5810.00 Account Number 06035.1900 Project Number Budgeted Item X 19,343,175.00 Category / Project Budget 4,852,531.57 Funds Used to Date College Avenue (Rock to Maple) Program Category / Project Name Easements Program / Project Category Name 14,490,643.43 2006A Sales Tax Construction Remaining Balance Fund Name Budget Adjustment Attached Dep .% mentir City rney Ffriance and Internal Services Director CA. 03 It Date 63-0( Date 4-3-2009 Date Previous Ordinance or Resolution # Original Contract Date: Original Contract Number: Ma Cpm Date Comments: Revised January 15, 2009 City Council Meeting of April 21, 2009 CITY COUNCIL AGENDA MEMO To: Mayor and City Council Thru: Don Marr, Chief of Staff Jeremy Pate, Director, Development Services Department CZ From: Chris Brown, Interim City Engineer Date: April 3, 2009 Subject: Approval of a Resolution authorizing the City Attorney to seek condemnation and possession of certain lands owned by the Ozark Theatre Limited Partnership, LLLP that are necessary for the College Avenue Improvements Project. RECOMMENDATION: Staff recommends approval of a resolution authorizing the City Attomey to seek possession by condemnation of a portion of the property owned by the Ozark Theatre Limited Partnership, LLLP adjacent to College Avenue. BACKGROUND: The College Avenue Improvements Project is one of the projects currently under construction from the Transportation Improvement Bond Program. The project includes sidewalk replacement, tree and landscaping installation, decorative lighting, and removal/reconfiguration of existing driveways to provide better access management and increase safety. Sidewalk and temporary construction easements are required from many property owners on the College Avenue Improvements Project. City staff has acquired the necessary easements for all of the properties along College Avenue from Rock Street north to Lafayette with the exception of the property located at 70 N. College Avenue. DISCUSSION: Currently the Arkansas Highway and Transportation Division has approximately 55' of highway right-of-way in this location for College Avenue. This right-of-way line is located within 6' of a portion of the existing building on this property. The City of Fayetteville is requesting a permanent sidewalk easement along the front of this property that varies in width from 3.6' on one end to 4.3' on the other. A temporary construction easement is also being requested that extends to the front of the existing building. The existing concrete sidewalk extends from the back of the curb up to the front of the building. The proposal includes removing the existing concrete and replacing it with a 1 City Council Meeting of April 21, 2009 new concrete and brick sidewalk with lighting and trees similar to the improvements on other sections of the project. The owners of this property are represented primarily by Gary Mansfield. Mr. Mansfield has expressed concern regarding the proposed improvements and the impact to the parking spaces on the subject property. Historically, there were three parking spaces in front of the building that were accessed directly off of College. These parking spaces were located partially within the existing right-of-way for College Avenue. With the location of the existing right-of-way, there is room for only one parking space parallel to College Avenue that would be fully outside of the right-of-way. With the additional easement being requested and the proposed sidewalk improvements, this parallel parking space would still be available. City staff and administration have discussed this easement with Mr. Mansfield on many occasions over the past several months with no agreement. Two letters, dated 11/6/08 and 12/16/08, were sent by former Mayor Dan Coody to Mr. Mansfield. These letters provide details of a proposed settlement that was not accepted. Mr. Mansfield is requesting a sum of $25,000 for a permanent easement that is only 398 sf and a temporary easement that is 782 sf. At this time, Staff can not recommend this payment since it is many times more than the estimated value of the easements. An appraisal will be done on the property to determine the actual land value. BUDGET IMPACT: This payment for land acquisition will be made from the Transportation Bond Fund. The agenda item staff review form indicates $5,000 as the cost of this request. It should be noted that this is an estimate based on an evaluation by a City Land Agent and that the final cost is subject to negotiations with the property owner or by court order. Attachments: Land Acquisition Exhibits Land Agents Memo Parcel Exhibit Site Pictures 2 RESOLUTION NO. A RESOLUTION TO AUTHORIZE THE CITY ATTORNEY TO SEEK CONDEMNATION OF PROPERTY AT 70 NORTH COLLEGE AVENUE OWNED BY OZARK THEATRE LIMITED PARTNERSHIP WHEREAS, the City of Fayetteville needs to acquire a permanent sidewalk easement varying in width from 3.6 feet to 4.3 feet as well as a 10 foot temporary construction easement (less and except the building footprint) along College Avenue at 70 North College to complete a large portion of the College Avenue Improvement Project; and WHEREAS, all necessary easements from Rock Street to Lafayette have been obtained except for 70 N. College Avenue. NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby authorizes the City Attorney to seek condemnation of the necessary easements along 70 N. College and do all things necessary to obtain legal possession and ownership from Ozark Theatre Limited Partnership of those construction and permanent easements. PASSED and APPROVED this 21st day of April, 2009. APPROVED: ATTEST: By: By: LIONELD JORDAN, Mayor SONDRA E. SMITH, City Clerk/Treasurer *tale ARKANSAS THE CITY OF FAYETTEVILLE, ARKANSAS ENGINEERING DIVISION August 5, 2008 Ozark Theatre.LP, LLLP 932 N Garland Avenue Fayetteville, AR 72701-1719 RE: Dear Sir or Madam: Project No. 06035-1930 College Avenue Improvements (Rock to Maple) Tract No. 34 Informational Letter As you may be aware, the City of Fayetteville is planning improvements to College Avenue, from Rock Street to Maple Street. The project consists of removing and replacing all of the curbs and sidewalks adjacent to College Avenue and adding trees, lighting, traffic light upgrades/replacement, access improvements, and a complete overlay. The total number of lanes will not change, but the road will be widened in many areas to provide a wider driving surface. The radius of some intersections will also increase allowing for easier turns. Any temporary construction and grading easements will terminate when the project has been completed by the contractor and accepted by the City of Fayetteville. Included is a general map of the subject area, as well as a drawing of your specific property depicting the anticipated areas required for the proposed easements. The temporary construction easement area will exclude any permanent structure(s) which may be located or under construction within said temporary construction easement area during the construction of this project. Should you agree to these improvements to your property, the Easement contained herein should be executed by all parties with current ownership interest in the particular property. The document should be notarized and returned to the City of Fayetteville. A City Land Agent will be pleased to witness and notarize the execution of the document if you will advise our office accordingly. A copy of the Easement is included for your records. We can provide a copy of the recorded document upon your request. Time is of the essence as construction has already begun, with project completion expected to be by the end of 2008. Your prompt execution and return of documents is greatly appreciated. A City Land Agent will be glad to meet with you at your convenience and discuss all phases of this project and the associated easements and acquisitions. Please contact Jill Goddard at (479) 444-3407, Holly Jones at (479) 444-3414, or I can be reached at (479) 575-8206. Sincerely, Ronald S. Petrie City Engineer RSP/jsg Enclosures 113 West Mountain 72701 479-575-8206 FAX 479-575-8202 College Avenue Improvements Parcel No. 765-12710-001 Tract No. 34 EASEMENT BE IT KNOWN BY THESE PRESENTS: THAT Ozark Theatre Limited Partnership, LLLP, an Arkansas limited liability limited partnership, hereinafter called GRANTOR, for and in consideration . of the sum of One Dollar ($1.00) and other good and valuable consideration, the receipt of which is hereby acknowledged, do hereby GRANT, SELL and CONVEY unto the City of Fayetteville, Arkansas, a municipal corporation, hereinafter called GRANTEE, and unto Grantee's successors and assigns, a permanent - easement and a temporary construction and grading easement to construct, maintain repair and/or replace a sidewalk for public access and amenities, such as benches, - planters, etc., together with all appurtenances thereto including lighting, on, over, across, and through the following described land situated in the County of Washington, State of Arkansas, to -wit: PROPERTY DESCRIPTION: (Deed Ref. 2005-00034285, Deed Bk. 1177/Pg. 286) Units 1 2 3 7- 8 9, & 10, Greer Plaza Condominium to the City of Fayetteville, Arkansas, as set forth in Master Deed to Greer Plaza Condominium Horizontal Property Regime, recorded in book 1177 at page 298, in the records of Washington County, Arkansas. A tract of land consisting of 0.48 acres more or less, lying within Section 15, Township 16 North, Range 30 West, in the City of Fayetteville, Washington County, Arkansas, more particularly described as: A part of the SW% of the NW'% of Section 15, T -16-N, R -30-W described as beginning at a point which is North 168 feet from the SW Corner of said 40 acre tract; thence North 101 feet; thence East 155.5 feet thence along the existing building wall South 45 feet thence East 90.3 feet thence along the existing building wall South 56 feet thence West 245.8 feet to the point of beginning. Said tract subject to a 30 foot road easement on the West side. PERMANENT EASEMENT DESCRIPTION: A permanent easement for a sidewalk, as built, across a part of Greer Plaza Condominium, being of variable width tying parallel with and contiguous to the existing East College Avenue right-of-way line. This permanent sidewalk easement will encompass only that portion of the sidewalk that will be constructed outside of the existing College Avenue right-of-way and will begin at the Grantor's South property line and extend in a Northerly direction 1010 feet, more or less to the Grantor's North property 1 ne. This permanent sidewalk easement contains 398 square feet. TEMPORARY CONSTRUCTION AND GRADING EASEMENT: A temporary construction easement ten (10) feet in width running parallel with and contiguous to the East side of the above described permanent sidewalk easement. This temporary construction easement contains 1 010 square feet. Together with the rights, easements, and privileges in or to said lands which may be required for the full enjoyment of the rights herein granted. This temporary construction and grading easement as conditioned above, shall terminate when the hereinabove referenced project has been completed by the contractor and accepted by the City of Fayetteville, Arkansas. It is expressly understood that the above temporary construction and grading easement shall exclude any permanent structure presently located within said temporary construction and grading easement area. TO HAVE AND TO HOLD unto said Grantee, its successors and assigns, so long as such sidewalks and appurtenances thereto shall be maintained, together with free ingress to and egress from the real estate first herein above described for the uses and purposes herein above set forth. The Grantor agrees not to erect any buildings or structures in said permanent easement. The consideration first above recited as being paid to Grantors by Grantee is in full satisfaction of every right hereby granted. All covenants and agreements herein contained shall extend to and be binding upon the respective heirs, legal representatives, successors and assigns of the parties hereto. It is hereby understood and agreed that the party securing this document in behalf of the Grantee is without authority to make any covenant or agreement not herein expressed. EASEMENT Page 2 of 2 WITNESS the execution hereof on this the day of 2008. BY: ATTEST: [Please print or type Name and Title] Ozark Theatre Limited Partnership, LLLP [Please pnnt or type Name and Title] STATE OF ARKANSAS COUNTY OF WASHINGTON ACKNOWLEDGMENT ) . ss. ) BE IT REMEMBERED, that on this date, before the undersigned, a duly commissioned and acting Notary Public within and for said County and State, personally appeared and ,bmewet known as the persons who executed the foregoing document, and who stated and acknowledged that they are the andrespectively, of Ozark Theatre Limited Partnership, LLLP, an Arkansas limited liability limited partnership, and are duly authorized in their respective capacities to execute the foregoing instrument for and in the name and behalf of said partnership, and further stated and acknowledged that they had so signed, executed and delivered said instrument for the consideration, uses and purposes therein mentioned and set forth. WITNESS my hand and seal on this MY COMMISSION EXPIRES: day of 2008. Notary Public PSE - 398 SQ. FT. (0.01 AC.) TCE - 782 S0. FT. (0.02 AC.) SIDEWALK EASEMENT MAP EXHIBIT •A• SCALE' 1' = 50' (NOT A SURVEY) II II I -I Ial "I APPARENT RIGHT OF WAY COLLEGE AVENUE 10110' PERMANENT SIDEWALK EASEMENT 3.8 t 4.3'1 e. 28.9 rIWEEM 9• 'N. 58.8'1 TEMPORARY CONSTRUCTION EASEMENT OF VARIABLE WIDTH EXTENDING FROM EAST EDGE OF SIDEWALK TO FACE OF BUILDING TRACT • LEGEND • Corners of Permanent Sidewalk Easement 765-12710-001 - Tax Parcel Number 2005-34285-- Deed Record e f Permanent Sidewalk Easement Temporary Construction Easement Existing Property Line TCE — Temporary Construction Easement City of Fayetteville Property Owner : Ozark Theatre Limited Partnership Drawn by : McClelland Consulting Engineers Date: April. 2009 Scale: 1'-50' Project Name : College Avenue Enhancement No. Revisions Date Project No. FY062191 Tract No. 34 Three existing parking spaces. Concrete has been removed along the existing right-of-way. FAYETTEVILLE THE CITY OF FAYETTEVILLE, ARKANSAS DEPARTMENTAL CORRESPONDENCE MEMORANDUM • TO: Ron Petrie, City Engineer FROM: Jill Goddard, Land Agent DATE: February 26, 2009 SUBJECT: Ozark Theatre LP College Avenue The counter offer of $25,000 by the owner of the Ozark Theatre LP property on College Avenue seems excessively high. We are only asking for 398 square feet of permanent easement (approximately a 4 foot wide strip) and 1010 square feet of temporary construction easement (a 10 foot wide strip). Normally, we would offer 25% of fee simple for a PE and 10% of fee simple for the TCE. The land value (only) amount as determined by Washington County Assessor's office for all the units within the PUD owned by Ozark Theatre adds up to $112,500 for approximately 0.477 acre ($235,850/ac or $5.41/sq. ft. fee simple value). Using our 25% and 10% values, PE = $540 and TCE = $550, for a total of $1090. If the owner were to look at the Assessor's values for land AND improvements, the total (for all 8 units) would be $1,108,700 ($2,324,320/ac or $53.36/sq. ft. fee simple value). Using our 25% and 10% values, PE = 55,310 and TCE = $5,390, for a total of $10,700. But that's high considering we are not harming any improvements other than the 3 lost parking spaces. To come up with an amount of $25,000 (using the 25% and 10% values), land value would have to be $125/sq. ft. (PE = $12,440 and TCE = $12,625, for total of $25,065 — round it all down just a little to be 525,000 even). But $125/sq. ft. is more than twice his assessed value for land AND improvements and I am not aware of any land values that high in the area The owner may be looking at full fee simple for PE. If so, at $50/sq. ft full fee for PE and 10% for TCE, PE = $19,900 and TCE = $5,050, for a total of $24,950. But that still seems really high for Just an easement. None of this takes into consideration the 3 three lost parking spaces. I don't have a value for them. I think a generous offer would be more like: PE: 398 sq. ft. x $10/sq. ft. x 25% = $ 995 TCE: 1010 sq. ft. x$10/sq.ft. x10% 1010 Damages: $1000 for each lost parking space = 3000 TOTAL OFFER (rounded down) = $5000 WStIIe THE CITY OF FAYETTEVILLE, ARKANSAS November 6, 2008 Gary Mansfield Ozark Theatre LP, LLLP 932 N. Garland Avenue Fayetteville, AR 72701-1719 RE: College Avenue Enhancement Project (Rock to Maple) Tract No. 34 Dear Gary: We at the City of Fayetteville appreciate your willingness to continue to work toward a solution that will help make this project reach its highest potential. Upon you signing the attached easement document, the City of Fayetteville agrees to the following: 1 The City of Fayetteville will prepare the survey & documentation necessary for the right-of-way vacation for N. Court Street and N. Brenda Drive located to the west of Razorback Road and to the north of W. Center Street. The City Staff will support this vacation to our fullest extent possible and have a favorable recommendation to the City Planning Commission and the City Council. The City Staff will begin this process immediately and will proceed as quickly as possible. Please note that current city ordinances will require some of the lots to be combined in order to eliminate the right-of-way. 2 If the vacation request is denied by the Fayetteville City Council, the City of Fayetteville agrees to pay full price of the acquired easements based on the appraised value of the property. The appraisal will be performed by a certified independent appraisal company that is mutually agreed upon by the City and Ozark Theatre, LP. For your convenience, a copy of the easement document and exhibit are attached to this letter. If you are in agreement, please provide us a copy of the signed and notarized document or the City will be pleased to witness and notarize the execution of the documents. Again, we appreciate you taking the time to meet us on several occasions in order to reach a settlement that will be acceptable to both parties. We look forward to hearing back from you soon. Sin an oody, Mayor Via Fax: (305) 692-1952 113 WEST MOUNTAIN 72701 479-675-6330 FAX 479-675$257 College Avenue Improvements Parcel No. 765-12710-001 Tract No. 34 EASEMENT BE IT KNOWN BY THESE PRESENTS: THAT Ozark Theatre Limited Partnership, LLLP, an Arkansas limited liability limited partnership, hereinafter called GRANTOR, for and in consideration of the sum of One Dollar ($1.00) and other good and valuable consideration, the receipt of which is hereby acknowledged, do hereby GRANT, SELL and CONVEY unto the City of Fayetteville, Arkansas, a municipal corporation, hereinafter called GRANTEE, and unto Grantee's successors and assigns, a permanent easement and a temporary construction and grading easement to construct, maintain, repair and/or replace a sidewalk for public access and amenities, such as benches, planters, etc., together with all appurtenances thereto including lighting, on, over, across, and through the following described land situated in the County of Washington, State of Arkansas, to -wit: PROPERTY DESCRIPTION: (Deed Ref. 2005-00034285, Deed Bk. 1177/Pg. 286) Units 1, 2, 3, 7, 8 9, & 10, Greer Plaza Condominium to the City of Fayetteville, Arkansas, as set forth in Master Deed to Greer Plaza Condominium Horizontal Property Regime, recorded in book 1177 at page 298, in the records of Washington County, Arkansas. A tract of land consisting of 0.48 acres, more or less, lying within Section 15, Township 16 North, Range 30 West, in the City of Fayetteville, Washington County, Arkansas, more particularly described as: A part of the SW% of the NW Y. of Section 15, T -16-N, R -30-W described as beginning at a point which is North 168 feet from the SW Corner of said 40 acre tract; thence North 101 feet; thence East 155.5 feet; thence along the existing building wall South 45 feet; thence East 90.3 feet; thence along the existing building wall South 56 feet; thence West 245.8 feet to the point of beginning Said tract subject to a 30 foot road easement on the West side. PERMANENT EASEMENT DESCRIPTION: A permanent easement for a sidewalk, as built, across a part of Greer Plaza Condominium, being of variable width lying parallel with and contiguous to the existing East College Avenue right-of-way line. This permanent sidewalk easement will encompass only that portion of the sidewalk that will be constructed outside of the existing College Avenue right-of-way and will begin at the Grantor's South property line and extend in a Northerly direction 1010 feet, more or less, to the Grantor's North property line. This permanent sidewalk easement contains 398 square feet. TEMPORARY CONSTRUCTION AND GRADING EASEMENT: A temporary construction easement ten (10) feet in width running parallel with and contiguous to the East side of the above described permanent sidewalk easement. This temporary construction easement contains 1,010 square feet. Together with the rights, easements, and privileges in or to said lands which may be required for the full enjoyment of the rights herein granted. This temporary construction and grading easement as conditioned above, shall terminate when the hereinabove referenced project has been completed by the contractor and accepted by the City of Fayetteville, Arkansas. It is expressly understood that the above temporary construction and grading easement shall exclude any permanent structure presently located within said temporary construction and grading easement area. TO HAVE AND TO HOLD unto said Grantee, its successors and assigns, so long as such sidewalks and appurtenances thereto shall be maintained, together with free ingress to and egress from the real estate first herein above described for the uses and purposes herein above set forth. The Grantor agrees not to erect any buildings or structures in said permanent easement. The consideration first above recited as being paid to Grantors by Grantee is in full satisfaction of every right hereby granted. All covenants and agreements herein contained shall extend to and be binding upon the respective heirs, legal representatives, successors and assigns of the parties hereto. It is hereby understood and agreed that the party securing this document in behalf of the Grantee is without authority to make any covenant or agreement not herein expressed. EASEMENT Page 2 of 2 WITNESS the execution hereof on this the day of 2008. BY: ATTEST: [Please print or type Name and Title] Ozark Theatre Limited Partnership, LLLP [Please print or type Name and Title] STATE OF ARKANSAS COUNTY OF WASHINGTON ACKNOWLEDGMENT ss. BE IT REMEMBERED, that on this date, before the undersigned, a duly commissioned and acting Notary Public within and for said County and State, personally appeared and tomewd known as the persons who executed the foregoing document, and who stated and acknowledged that they are the and , respectively, of Ozark Theatre Limited Partnership, LLLP, an Arkansas limited liability limited partnership, and are duly authorized in their respective capacities to execute the foregoing instrument for and in the name and behalf of said partnership, and further stated and acknowledged that they had so signed, executed and delivered said instrument for the consideration, uses and purposes therein mentioned and set forth. WITNESS my hand and seal on this MY COMMISSION EXPIRES - day of 2008. Notary Public • PSE - 398 SO. FT. (0.01 AC.) TCE - 1010 S0. FT. (0.02 AC.) SIDEWALK EASEMENT MAP D -EZ -D EXHIBIT "A" SCALES 1' = 50' (NOT A SURVEY) II II IJI I I -.`JI J L APPARENT RIGHT OF WAY COLLEGE AVENUE • PERMANENT SIDEWALK EASEMENT 3.6 t 101.0' G '1414 4.3't 10 TEMPORARY CONSTRUCTION EASEMENT 101.0' TRACT i LEGEND Comers of Permanent- Wel.r-sem':>t.' 5,S Permanent Sidewalk Easement Sidewalk Easement 765-12710-001 — Tax Parcel Number (t) — Deed Record T� - Temporary Construction Easement Existing Property Line Temporary Construction Easement City of Fayetteville Property Owner : Ozark Theatre LP, LLLP Drawn by : McClelland Consulting Engineers Date: Aug. 2008 Scale : 1" = 50' Project Name : College Avenue Enhancement No. Revisions Date Project, No. FY062191 Tract No. 34 Srettallle TI4E CITY OF FAYETTEVILLE, ARKANSAS December 16, 2008 Gary Mansfield Ozark Theatre LP, LLLP 932 N. Garland Avenue Fayetteville, AR 72701-1719 RE: College Avenue Enhancement Project (Rock to Maple) Tract No. 34 Dear Gary: We at the City of Fayetteville appreciate your willingness to continue to work toward a solution that will help make this project reach its highest potential. Upon you signing the attached easement document, the City of Fayetteville agrees to the following: I The City of' Fayetteville will prepare the survey & documentation necessary for the right- of-way vacation for N. Court Street and N. Brenda Drive located to the west of Razorback Road and to the north of W. Center Street. The City Staff will support this vacation to our fullest extent possible and have a favorable recommendation to the City Planning Commission and the City Council. The City Staff will begin this process immediately upon your written request and will proceed as quickly as possible. Please note that current city ordinances will require some of the lots to be combined in order to eliminate the right-of-way. 2 If the vacation request is denied by the Fayetteville City Council, the City of Fayetteville agrees to pay full price of the acquired easements based on the appraised value of the property. The appraisal will be performed by a certified independent appraisal company that is mutually agreed upon by the City and Ozark Theatre, LP. The appraisal will take into account the highest best value of the property that will be encumbered with the easements. 3 The Property Owner has up to twenty four (24) months to make a decision on the preferred option. Again, we appreciate you taking the time to meet us on several occasions in order to reach a settlement that will be acceptable to both parties. We look forward to hearing back from you soon, Si e'ely, D'i Coody, Mayor Via Fax: (305) 692-1952 113 WEST MOUNTAIN 72701 479-575-8330 FAX 479.675-8257 Page 1 of 1 Clarice Pearman - Res. 96-09 From: Clarice Pearman To: Brown, Chris Date: 4.27.09 5:51 PM Subject: Res. 96-09 CC: Audit Attachments: 96-09 Ozark Theatre LP Condemnation.pdf Chris: Attached is a copy of your agenda item passed by the City Council regarding the condemnation of Ozark Theatre property. Please let me know if there is anything else needed for this item. Have a good day! Clarice Clarice Buffalohead-Pearman, CMC, CAMC City Clerklfreasurer Division 113 West Mountain Fayetteville, AR 72701 479-575-8309 cpearmanno.ci.fayettevi Ile.ar. us file://C:\Documents and Settings\cpearman\Local Settings\Temp\XPgrpwise\49F5F09CFA... 4/27/2009