O-2007-3054 - Laserfiche WebLink

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REQUEST FOR CITY COUNCIL AGENDA ITEM Appropriation Agenda Date Requested: December 17, 2007 Requested By: Wayne J. salo~ , Department: Plannin!: Source of Funds: N/A Account Number: N/A Amount Budgeted: NI A Report: _Resolution: _Ordinance: l Amount Requested: Exhibits: 1. Ordinance 2. Area Map Budgeted Item: _YES -LNO SUMMARY & RECOMMENDATION The City has received application from Mr. Lin Pfeiffer to vacate, abandon and close North 14th and North 15th Streets between West Polk and West Adams Streets. The applicant's reason for the request is to facilitate future expansion of Pfeiffer & Son, Ltd at 116 N. 16th S1. Based on staff review of the request, the Public Works and Planning Departments have expressed no objections to the proposed closings- Additionally, each of the City's franchised utility companies (i.e. Centerpoint Energy, SBC & Comcast) has reviewed the proposed closings and issued letters of no objection. In accordance with Section 62.35 of the Code of Ordinances, an independent appraisal has been conducted for both rights-of-way, each containing 24,000 square feet. The resulting fair market value has been assessed at $0.75/sq. ft. for North 14th Street and $1.42/sq. ft. for North 15th Street. Total payment has been received for both rights-of-way in the amount of $39,060. This figure represents 75% of the fair market value as per the City's ordinance. Recommendation: It is recommended that Council approve an ordinance vacating, abandoning, and closing North 14th Street and North 15th Street between West Polk Street and West Adams Street as petitioned by the applicant. Action Reauired of Council: tho' e an ordinance vacating, abandoning, and closing North 14th Street and North 15th Street e the West Polk and West Adams Street. ouncil Agenda if fiJ, ~'} Date