Consideration and Approval of Purchase Agreement:  Purchase and Sale Agreement between the City of Flagstaff and FMH Enterprises, LLC for right-of-way acquisition along Humphreys Street (across from Wheeler Park, adjacent to future Marriott Residence Inn).

The purpose of this contract with FMH Enterprises LLC is to acquire real property as public right-of-way on Humphreys Street to allow for the future widening of Humphreys Street between Route 66 and Cherry Avenue.

Purchase Price for right-of-way acquisition           $155,600.00

Less the value of the abandoned right-of way       -   $5,600.00

Purchase price                                                            $150,000.00

This acquisition was budgeted in FY 2017 and funded through Non-Departmental, account number 001-09-402-1310-1-4431-Land Acquisition Costs.

 

COUNCIL GOALS:

3) Provide sustainable and equitable public facilities, services, and infrastructure systems in an efficient and effective manner to serve all population areas and demographics
6) Provide a well-managed transportation system


REGIONAL PLAN:
Goal T.84 Protect rights-of-way for future transportation corridors.

Yes,
Ordinance No. 2016-03 - Authorized the acquisition of real property as public right-of-way for the possible widening of Humphreys Street between Route 66 and Cherry Avenue.

Ordinance 2016-04 - Authorized the abandonment of 64 square feet of public right-of-way at the northwest corner of Aspen Avenue and Beaver Street to FMH Enterprises, LLC

Approval of the Development Agreement dated February 2, 2016, between the City of Flagstaff and FMH Enterprises, LLC.

Council has the option to review the Agreement and make minor changes, but not change the price agreed to per the Development Agreement as  approved on February 2, 2016.

The Arizona Department of Transportation in its Urban Mobility Study indicated that Humphreys Street may be widened in the future. The City has an interest in obtaining the property necessary for the widening of Humphreys at this time before the property is fully developed, rather than allowing the value to escalate in the post-development condition. The Developer and the City reached an agreement to the price of the acquisition which was outlined in the Development Agreement and approved by Council on February 2, 2016. At that time the purchase agreement had not been drafted. Council had requested Staff bring back the purchase agreement for review prior to entering into escrow.  Staff is following the direction of Council.

The key consideration of this acquisition is the future widening of Humphreys Street.

Inform