Title
A Resolution Authorizing The Acquisition Of Approximately 11.962 Acres Of Real Property From BNSF Railway
Presenter:
Gayle Sturdivant, PE, PMP, Acting Public Works Director/City Engineer
Body
Summary:
The proposed resolution would authorize the City of Colorado Springs (City) to acquire approximately 11.962 acres of real property adjacent to Nevada Ave from BNSF Railway (BNSF) for the Nevada Ave Improvements project and Birdsall Power Plant security enhancements.
Background:
On November 8, 2022, citizens in the Pikes Peak Region approved the extension of the PPRTA Capital Program. The "Nevada Ave Reconstruction - Rock Island Railroad to Commerce St" and the "Nevada Ave Reconstruction - Commerce St to Templeton Gap Floodway" projects are both PPRTA 3 Capital "A List" projects. These projects are collectively referred to as the Nevada Ave Reconstruction project, its scope is to improve vehicular operations at signalized intersections and provide improved transit, bicycle and pedestrian infrastructure to support the North Nevada Redevelopment vision. The City plans to initiate the Nevada Ave Reconstruction project in 2025 as PPRTA 3 funds become available.
BNSF Railway (BNSF) currently owns property adjacent to the Nevada Ave right-of-way between (approximately) Mt View Ln to the north and Commerce St to the south. The City and BNSF have informally discussed the sale of this property for several years. The property is valuable to the City in that it can provide for improved transportation facilities and improved security of the Birdsall Power Plant.
In late 2023, the City and BNSF negotiated the total purchase price of $3,100,000 for this property. The price is supported by an independent real estate appraisal obtained by the City pursuant to the City of Colorado Springs Procedural Manual for the Acquisition and Disposition of Real Property Interests.
The City desires to execute this real estate transaction in advance of PPRTA 3 funding bec...
Click here for full text