In the process of preparing for a proposed land exchange between the City and Stockman Bank to assemble the site for a new library building, it was discovered that some of the current Library parking property to be exchanged consists of several tax codes, parcels, and vacated railroad right of way.  In order to describe conveyable property, the City must create a new land subdivision.  The proposed subdivision plat aggregates the serveral lots and vacated railroad right of way into two lots.  Both for the purpose of facilitating the property exchange and to improve the general organization of the City's lots, the boundaries of the property will be relocated to create two separate lots, one of which will be exchanged with Stockman Bank. The attached exempt subdivision plat accomplishes both goals and the Council must approve the plat before the property can be exchanged. 

The Council may:

• Approve the exempt subdivision plat for the library, improving the organization of the City's property and permitting a proposed land exchange with Stockman Bank; or
• Not approve the exempt subdivision plat for the library, although the land exchange with Stockman Bank could not proceed as currently structured.

There is no significant financial impact with this exempt subdivision plat.

Staff recommends that Council approve the exempt subdivision plat of the library property.