Title
A Resolution Authorizing the Acquisition of Property Owned by the American Numismatic Association to be Used for the Rock Island Trail - Legacy Loop
Presenter:
Karen Palus, Director of Parks, Recreation and Cultural Services
Sarah Bryarly, Landscape Architect II
Body
Summary:
The Parks, Recreation and Cultural Services Department, through the City's Trails, Open Space and Parks Program ("TOPS") is recommending the acquisition of approximately 0.80 acres of real property currently owned by the American Numismatic Association ("Seller") located at 2415 Beacon Street for an extension of the Rock Island Trail and a key connection for the Legacy Loop.
The City's Park System Master Plan identifies the completion of the Rock Island Trail Corridor and the Legacy Loop as high priorities for trail development. The acquisition of the American Numismatic Property is necessary for the development of this missing segment of trail.
Previous Council Action:
City Council heard a presentation on this item at its January 23, 2017 work session.
Background:
The Property (the "Property"), currently owned by the American Numismatic Association (Seller), more specifically known as Tax Schedule Number 6331338011, consists of approximately 0.80 acres. The Property is located along the Rock Island Railroad Corridor near the north end of Monument Valley Park, just east of the Popcycle Bridge.
The Seller has agreed to sell the property to the City for trail purposes for the amount of $424,900. The purchase price of $424,900 is supported by an appraisal obtained by the City in accordance with the City's Real Estate Manual. The purchase is subject to the approval of the Mayor; Trails Open Space and Parks (TOPS) Working Committee; the City Parks and Recreation Advisory Board; and the City Council of Colorado Springs. Based upon approval of the property acquisition, staff will move forward with developing a purchase contract including standard due diligence p...
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