Opportunity Bank has petitioned to vacate a portion of right of way located in the northeast corner of 10th Avenue North and North 27th Street.  The petitioner would like to install a monument sign at the corner which is required to be on private property.  City staff has worked with Opportunity Bank to determine the amount of land that is needed to be vacated while leaving enough right of way for future plans for a traffic signal being designed by MDT.  The right of way area proposed to be vacated is approximately 1,163 square feet.  Opportunity Bank has completed a Brokers Property Evaluation and determined the proposed right of way to be vacated to be valued at $37,785.87.  

The Council may:

• Acknowledge receiving the petition to vacate the above-mentioned right-of-way and set a public hearing for June 10, 2019; or
• Do not acknowledge the petition and terminate the right-of-way vacation process.

The petitioners have submitted a Brokers Property Evaluation establishing fair market value at $37,785.87.

Staff recommends that the City Council acknowledge the receipt of a petition to vacate a portion right of way at the northeast corner of 10th Avenue North and North 27th Street and set a public hearing for June 10, 2019.