10-12-15 Agenda, Packet & Committee Meeting Notice

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Memorandum to Linda M. Martin July 16, 2015 Page Two after further conversation with the corridor stakeholders. Once the basic alignment was approved by DCI and Engineering, the real estate appraising and buying team led by DLZ Indiana interfaced with the property owners helping them understand the project design, as it affected them, as well as the financial compensation for real estate transfer. Thus, several of the property owners were aware, going into the project that segments of existing Main Street and Lafayette Street would be "excess" when the project was completed and that they could petition to vacate them and combine them with their own adjacent properties. They are also aware that the vacations would be subject to easements for existing overhead and underground utilities. There are two such segments: At Ireland - On the east side of Main Street(former Lafayette alignment)just north of Ireland Road relocation of the roadway slightly west has left an excess adjacent to Caroline Partners property. Only a portion of right of way at that point is being vacated, so there is no split with a property owner on the other side. Old Main at Lafayette (formerly Walter Street)—the franchisee operating Wendy's Restaurant owns properties on the east side of Old Main, the City maintains ownership on the west side. Therefore, both the City and Wendy's of Fort Wayne become the beneficiary of their respective half width of Old Main Street. According to the approved acquisition offer from the City to Wendy's of Fort Wayne, once the petition to vacate is approved by ordinance, the City will divest of its "excess" property ownership by deeding it to Wendy's of Fort Wayne. A smaller part of that area is adjacent to a KFC restaurant property owned by WCMR Holdings, LLC. They become the beneficiary of the less than full width vacated segment adjacent to them. I recommend that the Board of Public Works recommend these petitions favorably to the Common Council, these being petitions for vacation of right of way segments leaving easements for existing utilities in place. Please call if there are questions. Filed in r-'r-Pc's Office ETP 15 2015 CLERIC.N 3cs ' ^_, I p CLERIC SOUTh IEND,!IV