Title
A Resolution Authorizing the Acquisition of an 8,243-Square Foot Parcel Land for Right-of-Way and a 10,349- Square Foot Temporary Easement From Victory Chapel Ministries, Inc., using PPRTA Funds for the Academy Boulevard - Fountain to Jet Wing Drive Project
Presenter:
Gayle Sturdivant, PE, PMP, Interim Public Works Director
Darlene Kennedy, Real Estate Services Manager
Body
Summary:
The acquisition proposal would authorize the City of Colorado Springs Real Estate Services Manager and Public Works Director to enter into a Real Estate Purchase and Sale Agreement with Victory Chapel Ministries, Inc. (the "Property Owner") to acquire an 8,243-square foot parcel of land for right-of-way and a 10,349-square foot temporary construction easement (the "Property") in connection with the Academy Boulevard - Fountain to Jet Wing Drive Project (the "Project").
Background:
The Project was identified by the Pikes Peak Rural Transportation Authority ("PPRTA") as an "A-list" priority project, and the PPRTA committed funding for construction of the project in the amount of $59,497,800.00 at its Board meeting on July 6, 2022. Construction started in February 2023 and is anticipated to be completed in July 2025.
The Property to be acquired will allow for the realignment of Boychuk Avenue and to construct a new access to replace the one to be removed (see Location Map for Project location).
Pursuant to Chapter 9 of The City of Colorado Springs Procedure Manual for the Acquisition and Disposition of Real Property Interests, Revised 2021 ("RES Manual"), an appraisal for the Property and affected improvements was obtained, which supports the purchase price of $124,700.00. Pursuant to the RES Manual, City Council must approve property acquisitions if the total acquisition amount of the property interest acquired in the transaction exceeds $100,000.
After City Council approval, the PPRTA Board is scheduled to consider the acquisition at the September 13, 2023, mee...
Click here for full text