Title
A Resolution Authorizing a Land Exchange between the City of Colorado Springs and CSJ No. 7, LLC and Urban Enterprises, LLC.
Presenter:
Kathleen Krager, Transportation Planning Manager - Traffic Engineering
Darlene Kennedy, Real Estate Services Manager
Bob Cope, Manager - Economic Development
Body
Summary:
A resolution to approve a land exchange between the City of Colorado Springs and CSJ No. 7, LLC and Urban Enterprises, LLC in support of the CDOT I-25 /Cimarron Improvement Project and the Southwest Downtown Urban Renewal Plan.
Previous Council Action:
In 2001, City Council approved the Southwest Downtown Urban Renewal Plan. On November 26, 2006, City Council adopted a Statement of Intent (SOI) in support of the Southwest Downtown Urban Renewal Area. On August 26, 2008, City Council adopted a new SOI in support of the Southwest Downtown Urban Renewal Area, which replaced the previous SOI. The 2008 SOI provides, among other provisions, for the transfer of certain City-owned real property to the Colorado Springs Urban Renewal Authority (CSURA) in support of the Urban Renewal Plan.
Background:
As part of the CDOT I-25 /Cimarron Improvement Project ("Project"), CDOT is required to construct a trail and stormwater BMPs in conformance with the City's Drainage Criteria Manual, Vol. II. CDOT proposed a trail and stormwater vault in the existing Cimarron right of way. The trail proposed by CDOT was ADA compliant, but not truly accessible and not preferred by the City's Park Department. The BMP proposed by CDOT is a vault which will take significant City resources to maintain. If the City obtains the property at the northeast corner of I-25 and Cimarron Street, known as 301 Cimino Drive (the "CSJ Property"), CDOT has agreed to install a trail that the City Parks Department believes will be more accessible and a water quality pond that will require less maintenance effort from the City. The CSJ Property is owned by CSJ No. 7, LLC and Urban Ent...
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