ConocoPhillips has petitioned to vacate South 23rd Street between 3rd Avenue South and 4th Avenue South and 4th Avenue South between South 23rd Street and South 24th Street totaling 54,380 square feet. ConocoPhillips owns all of the property abutting the proposed right-of-way and may develop the property in the future, but has no immediate redevelopment plans.  Conoco's goal is to reduce traffic on the streets by making them private and allowing private road signs to be installed.  Currently, there is a water and a sanitary sewer line running through the proposed vacated area. ConocoPhillips will enter into an easement agreement that will allow full access to these lines and will require ConocoPhillips to relocate the water and sanitary sewer lines if they ever propose to construct a structure over the lines, including constructing a fence that limits access to the property and utilities.

The Council may:

• After holding a public hearing, approve the vacation of the above-mentioned right-of-way; or 
• Do not approve the vacation of the above-mentioned right-of-way.

A comparison land sales report was completed by Charles H. Hamwey, valuing the right-of-way at $2.25 to $2.50 per square foot. ConocoPhillips is offering the city $2.50 per square foot. In the past, the City has accepted $2.35 per square foot from ConocoPhillips for right-of-way. The total amount offered from ConocoPhillips is $135,950.00, which will be deposited into the Gas Tax Fund.

Staff recommends that the City Council conduct a public hearing, approve vacating portions of South 23rd Street and 4th Avenue South, approve an easement agreement for the public utilities running through the vacated streets and accept a payment of $135,950 from Conoco-Phillips for the property.