J & S Development Company, property owner in Grand Peaks Subdivision, is replatting the subdivision.  With the new plat, which will be 3rd Filing of Grand Peaks Subdivision, portions of the internal streets will be realigned.  This requires portions of the street right of way to be vacated and new right of way to be dedicated.  None of the streets have been constructed.  J & S Develoment Company is the original developer, therefore, the right of way to be vacated is done at no cost to the developer.  Attached is a map showing the right of way to be vacated and the new right of way to be dedicated.   The new plat for Grand Peaks Subdivision, which will dedicate new rights of way, will be presented for approval at a later meeting.  If approved, the resolution vacating portions of right of way within Grand Peaks Subdivision will not be recorded until the new plat is approved.

The Council may:

• Conduct a public hearing and approve the vacation of the above mentioned right of way.
• Do not approve the vacation of the above mentioned right of way.

Since the right of way proposed to be vacated have not been constructed and will revert to the original developer, there is no cost for the vacation.  New right of way will be dedicated to replace the vacated area.

Staff recommends that Council approve the vacation of portions of right of way within Grand Peaks Subdivision.