Staff recommends City Council hold a public hearing and approve the alley vacation within La Ray Subdivision in exchange for 10 feet of right-of-way along Lincoln Lane and $6,496.40.

Propiedad, LLC, owner of the property north of the alley, has petitioned to vacate the alley adjacent to La Ray Subdivision, Block 1, Lots 1-6.  Propiedad, LLC is proposing to vacate the alley right-of-way and combine it with their property in order to develop.  The alley was originally dedicated as part of La Ray Subdivision, but annexed into the city when Propiedad, LLC annexed their property.  The property owners within La Ray Subdivision have no interest in the alley and have agreed to quitclaim their interest in the alley.  The alley, if vacated, would revert to Propeidad's property.  Attached is a letter from the petitioner explaining their interest in the right of way.  

The developer has indicated they are proposing to construct a storage facility on their property.  As of right now, they have not developed plans for a storage facility.  When they submit for a building permit for the proposed storage facility, Engineering will evaluate the site for off-site improvements to Lincoln Lane.  

Vacation of this alley will not affect traffic or pedestrian accessibility since the alley has not been constructed.  

The right-of-way on Lincoln Lane fronting this property is only 40 feet wide.  The right-of-way along Lincoln Lane is inconsistent throughout the corridor.  The developer is amenable to trading the alley right-of-way for right of way along Lincoln Lane.  Engineering is recommending that the city obtain 10 feet of additional right-of-way (1,750 sf) along Lincoln Lane.  The alley right of way is approximately 4,730 sf.  If vacated, the developer would be responsible to dedicate 10 feet of right-of-way along Lincoln lane and pay the city for the difference between the alley and Lincoln Lane right of way.  The difference is 2,980 sf at a value of $2.18/sf for a total of $6,496.40. 
 

City Council may:

• Approve the right-of-way vacation and have the developer pay for full value of the right-of-way at $2.18/sf, or;
• Approve the right-of-way vacation in exchange for 10 feet of right-of-way along Lincoln Lane along with the developer paying the difference between the alley and Lincoln Lane right-of-way.
• Disapprove the right-of-way vacation.  If disapproved, the developer would be required to develop their property without the alley right-of-way.

Larry Larsen with the Premier Group completed a comparative market analysis for this right-of-way and determined it to be valued at $2.18/SF.  The alley right-of-way is approximately 4,730 sf.  The developer is amenable to trading right-of-way along Lincoln Lane.  Engineering is proposing that the developer dedicate 10' of right-of-way along Lincoln Lane and pay the city for the difference between the alley and Lincoln Lane right-of-way.  The difference is 2,980 sf at a value of $2.18/sf for a total of $6,496.40.