| ITEM #: 5. DATE: 08/29/2022 AI #:1016 |
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CITY COUNCIL ACTION REPORT
| SUBJECT: | ACCEPT TWO (2) SPECIAL WARRANTY DEEDS ASSOCIATED WITH THE PROLOGIS DEVELOPMENT |
| STAFF PRESENTER(S): | Linda Beals, Real Estate Coordinator |
SUMMARY
Acceptance of two Special Warranty Deeds for road right-of-way required for the traffic signals at the intersection of Bullard Avenue and Harrison Street and the intersection of Bullard Avenue and Grant Street.
Recommendation
Accept two (2) Special Warranty Deeds from Prologis Commerce Park 1 QOZB, LLC, a Delaware limited liability company required for two intersections associated with the Prologis Development (Linda Beals, Real Estate Coordinator)
FISCAL IMPACT
There will be no fiscal impact to the City in the fiscal year 2023 or in future years with the acceptance of these deeds.
BACKGROUND AND PREVIOUS ACTIONS
The Prologis Development is located at the northeast corner of Yuma Road and Bullard Avenue. Traffic signals are required and have been constructed at the intersections of Bullard Avenue and Harrison Street, as well as Bullard Avenue and Grant Street. These signals require the dedication of additional road right-of-way. Prologis Commerce Park 1 QOZB, LLC has provided the Special Warranty Deeds dedicating the required portions of the road right-of-way.
STAFF ANALYSIS
As previously noted, City staff has determined the Special Warranty Deeds for road rights-of-way are necessary to create the required access to the Prologis Development and portions of the adjacent development.