Regal Land Development, Inc., the developer of Ironwood Subdivision 4th Filing, is replatting a portion of Ironwood 4th Filing.  With the new plat, which will be Ironwood Subdivision 5th Filing, the streets will be realigned.  This requires the street right of way to be vacated and new right of way to be dedicated.  None of the streets have been constructed.  Regal Land Development, Inc. is the original developer, therefore, the vacated right of way to be vacated is granted at no cost to the developer.  Attached is a map showing the right of way to be vacated.   This Council action acknowledges the street vacation application and sets a public hearing date of August 13, 2012.  The new plat for Ironwood Subdivision 5th Filing, which will dedicate new rights of way, will be presented for approval at either the August 13 or August 27, 2012 City Council meeting.

The Council may:

• Acknowledge receipt of the petition to vacate the above mentioned right of way and set a public hearing for August 13, 2012; or 
• Do not acknowledge the petition to vacate the right of way.

Since the right of way proposed to be vacated will revert to the original devloper and no streets are constructed, there is no cost for the vacation.  New right of way will be dedicated to replace the vacated area.

Staff recommends that Council acknowledge receipt of the petition to vacate portions of right of way within Ironwood Subdivision 4th Filing and set a public hearing for August 13, 2012.