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REQUEST FOR CITY COUNCIL AGENDA ITEM Appropriation Agenda Date Requested: Jul Requested By: Source of Funds: N/A Account Number: N/A Department: Planninl! Amount Budgeted: N/A Report: _Resolution: _Ordinance: l Amount Requested: Exhibits: 1. Ordinance 2. Area Map Budgeted Item: _YES -LNO SUMMARY & RECOMMENDATION The City has received an application from Douglas F. Latimer, Jr. to vacate, abandon and close the West Tyler Street Right-of-Way between North 16th and North 18th Streets. Mr. Latimer desires to close the subject right-of-way in order to create a single economic unit of land to facilitate future development. Each of the City's franchised utility companies (i.e. Centerpoint Energy, AT&T & Comcast) has reviewed the request and expressed no objection to the closing. Staffs review of the request identified the West Tyler Street ROW as a future drainage route to F216-00-00. Therefore, the City will retain the north half of the right-of-way as an easement for future drainage improvements in the area. In accordance with Section 62.3 5 of the Code of Ordinances, Staff has ordered an independent appraisal of the right-of-way in question. As a result, the fair market value has been appraised at $1.50 per square foot. As in the past when a drainage easement is required, the appraisal provides a 90% discount to the area retained. The City has received payment from the applicant in the amount of $21,978 (75% of Fair Market Value as per the ordinance) for the closing a total of35,520 square feet of the West Tyler St. Right-of-Way. Recommendation: Staff recommends vacating, abandoning, and closing the West Tyler Street Right-of-Way retaining a 30' wide easement for future drainage improvements. Action Required of Council: Consider approval of an ordinance to vacate, abandon, and close the West Tyler Street Right-of-Way from North 16th Street to North 18th Street. cil Agenda "-~ 7/;0/ te ity Manager