A Resolution Authorizing the Use of a Possession and Use Agreement for the Property Owned by AMERCO Real Estate Company that is Needed for the Tejon Roundabout Project
Presenter:
Mike Chaves, Engineering Manager/City Engineering
Body
Summary:
The attached resolution authorizes staff to enter into a possession and use agreement with AMERCO Real Estate Company (also known as U-Haul Real Estate Company) ("AMERCO") for property needed for the Tejon Roundabout Project. AMERCO is the owner of a .376 acre parcel of land at the intersection of South Tejon Street and Cascade Avenue (the "Property"). A parcel vicinity map is attached. This Property includes a commercial use building. The need for a portion of the Property was identified during the preliminary and final design process for the Tejon Roundabout Project and approved by the Colorado Department of Transportation ("CDOT").
Previous Council Action:
On October 25, 2011, City Council approved Resolution No. 177-11 to accept a grant from the CDOT in the amount of $1,579,239 that included Federal Highway Administration ("FHWA") funds, for the purpose of providing funding for design, plans, and construction of the Tejon Roundabout Project.
Background:
The Tejon Roundabout Project ("Project") will convert the traffic control at the existing signalized intersection of South Tejon Street, Cascade Avenue, Ramona Avenue, and Cheyenne Boulevard to a modern roundabout. The existing intersection includes five approaches to a single point. The intersection has a fully-developed urban context, including retail, office, entertainment and residential uses in the Ivywild neighborhood. Both Cheyenne Boulevard and South Tejon Street have bicycle lanes. There is a pinch point of these bicycle lanes at the intersection in all directions, which forces bicyclists to merge into the travel lanes at the intersection rather than being able to follow bicycle lanes through the intersection.
The a...
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