| ITEM #: 8. DATE: 12/13/2021 AI #:597 |
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CITY COUNCIL ACTION REPORT
| SUBJECT: | ACCEPT THE DEDICATION OF A SPECIAL WARRANTY DEED FOR A PORTION OF W. ELWOOD STREET REQUIRED FOR THE ISOLA AT GOODYEAR RANCH DEVELOPMENT |
| STAFF PRESENTER(S): | Linda Beals, Real Estate Coordinator |
SUMMARY
Dedication of a Special Warranty Deed for a portion of W. Elwood Street required for the development of Isola at Goodyear Ranch.
Recommendation
Accept the dedication of a Special Warranty Deed for a portion of W. Elwood Street from El Cidro Ranch, LLC, an Arizona limited liability corporation. (Linda Beals, Real Estate Coordinator)
FISCAL IMPACT
There will be no fiscal impact to the city in the fiscal year 2022 or future years related to the acceptance of the deed.
BACKGROUND AND PREVIOUS ACTIONS
Isola Goodyear, LLC, an Arizona limited liability company (“Isola”), is in the process of developing the Isola at Goodyear Ranch, a single-family rental development at the northeast corner of S. Cotton Lane and W. Elwood Street (the “Isola Property”). A Final Plat for El Cidro Parcel 5 is being presented tonight as a separate Council item. Isola is responsible for constructing half-street improvements to the north half of W. Elwood Street along the frontage of the southern boundary of the Isola Property (the “W. Elwood Street Improvements”) and for providing the city with the additional right-of-way needed for the construction of the W. Elwood Street Improvements.
STAFF ANALYSIS
El Cidro Ranch, LLC, an Arizona limited liability company has provided the attached Special Warranty Deed dedicating the property necessary for Isola to construct the W. Elwood Street Improvements. Accepting the Special Warranty Deed will allow for the construction of the W. Elwood Street Improvements and the development of Isola at Goodyear Ranch.