Title
A Resolution authorizing the acquisition of real property and a temporary easement using PPRTA funds for the Marksheffel Road - North Carefree to Dublin Project
Presenter:
Gayle Sturdivant, PE, PMP, City Engineer/Deputy Public Works Director
Kellie Billingsley, Real Estate Services Manager
Body
Summary:
The acquisition proposal would authorize the City of Colorado Springs Real Estate Services Manager and the Public Works Director to enter into Real Estate Purchase and Sale Agreements with Southwest Equity Associates, LLP and Trigon Land & Cattle Company (the "Property Owners") to acquire approximately 93,446 square feet of real property and a temporary construction easement of approximately 7,671 square feet from Southwest Equity Associates, LLP; and, approximately 30,657 square feet of real property from Trigon Land & Cattle Company (the "Properties") in connection with the Marksheffel Road - North Carefree to Dublin Project (the "Project").
The negotiated purchase price of the Properties is shown below:
Property Owner
TSN
Acquisition Amount
Southwest Equities Associates, LLP
5321001003
$571,200.00
Southwest Equities Associates, LLP
5316002020
$107,700.00
Trigon Land & Cattle Company
5316002021
$107,300.00
Total
$786,200.00
Background:
The Project was identified by the Pikes Peak Rural Transportation Authority ("PPRTA") as an "A-list" priority project. The PPRTA committed funding for the Project, which commenced construction in May 2023, and is anticipated to be completed in December 2026.
The Properties to be acquired will allow for the widening of Marksheffel Road and for the construction of the corresponding infrastructure (see attached 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 Properties and affected improvements was obtained, which supports the total...
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