Monday, October 26, 2015

City to pay $106,722 per acre for trail

Posted By on Mon, Oct 26, 2015 at 4:28 PM

At its meeting Tuesday, City Council will consider a proposal to spend $749,400 on 7.022 acres of land for a trail connection.

The resolution states the city obtained an appraisal of the Rock Island Trail that supports the purchase price.

Here's a sliver of the land being purchased:
screen_shot_2015-10-26_at_3.45.27_pm.png


Seems like a lot, considering some of the best residential building spots in the region command similar prices. But anyway ... here's the resolution, which is included on the consent calendar, which means this acquisition along with several other unrelated items should be approved in one fell swoop, usually without discussion. It is possible, however, for a Council member or a citizen to ask that a consent calendar item be pulled off for individual consideration. Below the resolution is a map of the strip to be acquired.

A RESOLUTION AUTHORIZING THE ACQUISITION OF APPROXIMATELY 7.022 ACRES OWNED BY UNION PACIFIC RAILROAD FOR THE ROCK ISLAND TRAIL CORRIDOR
WHEREAS, on March 4, 2015, the Parks, Recreation and Cultural Services Department, through the City’s Trails, Open Space and Parks Program “TOPS” voted unanimously to support the Union Pacific Railroad acquisition of approximately 7.022 acres of real property, a corridor of approximately 1.25 miles in length, and located north of the Old North End Neighborhood, between the Pikes Peak Greenway and Templeton Gap Road “Rock Island Trail”; and
WHEREAS, on April 9, 2015, the City Parks and Recreation Advisory Board voted unanimously to support the acquisition of the Rock Island Trail for trail purposes; and
WHEREAS, the current 2015 Park System Master Plan identifies this section of missing trail as a top priority to advance the completion of the Rock Island Trail and the northern portion of the Legacy Loop Project; and
WHEREAS, the Parks and Recreation Department has entered into a Purchase and Sale Agreement with the Union Pacific Railroad, executed on March 3, 2015; and
WHEREAS, the acquisition of the Rock Island Trail is in the public interest and is needed to complete the east-west multiuse trail that begins in eastern Colorado Springs and terminates short of the Pikes Peak Greenway; and
WHEREAS, pursuant to The City of Colorado Springs Procedure Manual for the Acquisition and Disposition of Real Property Interest “Real Estate Manual” and City Code Section 7.7.1802, City Council must approve property acquisitions if the total acquisition amount of the property interest acquired in the transaction exceeds $50,000; and
WHEREAS, the City has obtained an appraisal of the Rock Island Trail that supports the purchase price of $749,400; and
WHEREAS, the Parks and Recreation Department requests City Council’s approval of the purchase of the Rock Island Trail in accordance with an executed Purchase and Sale Agreement.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLORADO SPRINGS:
Section 1. City Council hereby authorizes the acquisition of the Rock Island rail real property, as shown on Exhibit A, attached hereto and made a part hereof from Union Pacific Railroad for the purchase price of $749,400, in accordance with the executed Purchase and Sale Agreement, and pursuant to the Real Estate Manual and City Code Section 7.7.1802.
Section 2. The City’s Real Estate Services Manager and Park Director are authorized to execute all documents necessary to complete the acquisition of the Rock Island Trail real property from Union Pacific Railroad, in accord with the Real Estate Manual.
DATED at Colorado Springs, Colorado, this ______ day of _______________, 2015.
ATTEST: _____________________________________
Merv Bennett, Council President
click to enlarge screen_shot_2015-10-26_at_3.43.02_pm.png

Tags: , , , , , ,

Favorite

Comments (9)

Showing 1-9 of 9

Add a comment

 
Subscribe to this thread:
Showing 1-9 of 9

Add a comment

Latest in IndyBlog

Top Topics in IndyBlog

City Gov (12)


Local News (11)


Food & Drink (4)


Military (3)


Elections (3)


Recent Comments

All content © Copyright 2016, The Colorado Springs Independent   |   Website powered by Foundation