Title
A Resolution Approving a Land Exchange Between the City of Colorado Springs and Interquest Marketplace, LLC
Presenter:
Kathleen Krager, Transportation Manager
Body
Summary:
The attached Resolution authorizes staff to exchange surplus City real property for real property owned by Interquest Marketplace, LLC.
Previous Council Action:
N/A
Background:
A brief history of events that created this situation is as follows:
In 1991, the City acquired real property by deed just north of the current alignment of New Life Drive between the intersections of Federal Drive to the west and Voyager Parkway to the east ("City Property"). The City Property is approximately 43,971 square feet. The deed by which the City Property was transferred does not specify the purpose for which the City Property was transferred to the City. In 2008, when New Life Drive was platted as part of Marketplace at Interquest Filing 2 the City Property was not used for New Life Drive; the alignment of New Life Drive is south of the City Property. Thus, the City Property is an unusable strip of property directly north of New Life Drive between Federal Drive and Voyager Parkway. The City Property remains vacant. The controlling department, Public Works, considers the City Property to be surplus. Real Estate Services solicited comment from internal stakeholders, and no other department or enterprise expressed interest in maintaining fee ownership or reserving an easement on the City Property.
The owner of the property directly to the south of the City Property, Interquest Marketplace, LLC desires to acquire the City Property from the City. The owner of the property directly north of the City Property, Allison Valley Development Company, LLC, has joined in the request to dispose of the City Property to Interquest Marketplace, LLC.
Interquest Marketplace, LLC is the owner of a fee strip of property that runs along the northern boundary of the Interquest Par...
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