Title
A Resolution Authorizing the Acquisition of Real Properties located at 1705, 1715, and a portion of 1749 North Academy Boulevard to be used for the Rock Island Substation Relocation Project
Presenter:
Jessica K. Davis, Land Resource Manager, Colorado Springs Utilities
Travas Deal, Chief Executive Officer, Colorado Springs Utilities
Body
Summary:
Colorado Springs Utilities ("Utilities") requests that City Council approve a resolution that will allow Utilities to purchase 1705 N. Academy Blvd, 1715 N. Academy Blvd., and a portion of 1749 N. Academy Blvd. as part of the Rock Island Substation Relocation Project.
Background:
Utilities is seeking approval to purchase land for the future relocation of the Rock Island Substation (the "Substation"). The Substation will require 5-10 acres of land near the existing substation located in the middle of North Academy Blvd, south of Constitution Avenue and north of La Salle Street.
The current site, located in the median of N. Academy Boulevard, poses safety risks due to traffic exposure and limits expansion due to its small footprint. Relocating the Substation will improve safety, allow for modernization, and support future load growth, resource expansion, and enhanced grid reliability and resiliency.
Pursuant to the provisions of the Colorado Springs City Charter, the City is empowered to acquire real property necessary for Utilities' projects. Sections 4.1 and 9.6 of The City of Colorado Springs Procedure Manual for the Acquisition and Disposition of Real Property Interests, Revised 2021 (the "RES Manual") provides that if the total acquisition amount is greater than $100,000, City Council must approve the acquisition amount.
Utilities is requesting authorization from City Council to acquire the real properties located at 1705, 1715, and a portion of 1749 N. Academy Blvd. for a purchase price of $6,100,000, which is supported by a real estate appraisal conducted by an independent real estate apprai...
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