Title
A Resolution Authorizing a Land Exchange Between the City of Colorado Springs and Charles H. Ames and Connie G. Ames
Presenter:
Gayle Sturdivant, City Engineer/Deputy Public Works Director
Aaron Egbert, Senior Engineer
Body
Summary:
A proposed land exchange for parcels of equal size and equal value between the City of Colorado Springs (“City”) and Charles H. Ames and Connie G. Ames (“Ames”).
The City’s parcel for exchange is controlled by the City’s Public Works Department (“Public Works”) and is located along the east boundary of Sondermann Park, due south of the intersection of Espanola Street and North 7th Street (“City Exchange Parcel”). The Ames parcel for exchange is located northeast of the City Exchange Parcel and is part of the current traveled way of Espanola Street (“Ames Exchange Parcel”). The proposed exchange will provide the City with the title to that portion of Espanola Street fronting the Ames Property, and it will provide Ames with approximately the same gross ownership area as exists prior to the exchange.
Background:
During negotiations with Ames related to the Centennial Boulevard Expansion Project (the “Project”), the matter of a land exchange of the Ames Exchange Parcel for the City Exchange Parcel was discussed. North 7th Street will not intersect with the future Centennial Boulevard and will be terminated in a cul-de-sac north of Espanola Street. The street access to two residences located south of Centennial Boulevard along North 7th Street will be derived through Espanola Street, precipitating a need for the City to clear the title to undocumented right-of-way for Espanola Street.
Ames owns a rectangular tract of unplatted land located southeast of the intersection of Espanola Street and North 7th Street with a gross land area of 5,850 square feet, and further identified by El Paso County Assessor’s Schedule Number 7401400013 (“Ames Property”). The Ames Exchange Parcel is the north 25 feet of the Ames Property with an area of approximately 1,250 square feet, to be used as City right-of-way.
The City Exchange Parcel is 13.58 feet by 92 feet, abutting the west line of the Ames Property, with an area of approximately 1,249 square feet.
The Ames Exchange Parcel and the City Exchange Parcel both have estimated values of $10 per square foot.
Ames executed a Real Estate Land Exchange Agreement with the City on April 1, 2021 (“Agreement”), subject to approval by City Council. The Agreement stipulates the exchange of the City Exchange Property and the Ames Exchange Property.
The land exchange will vest title with the City to a portion of Espanola Street that is currently located upon the Ames Property. The land exchange will allow Ames to retain the same gross land area of 5,850 square feet for the Ames Property after the exchange.
Previous Council Action:
N/A
Financial Implications:
Costs associated with the land exchange include survey work by the City to establish monuments per the Agreement, costs associated with initiating a re-zone of the City Property conveyed to the Ames to zoning classification R-2 (two-family residential) per the Agreement and closing costs. The land exchange will alleviate further expense associated with obtaining title to the Espanola Street right-of-way through an acquisition of the Ames Exchange Parcel.
City Council Appointed Board/Commission/Committee Recommendation:
N/A
Stakeholder Process:
Terms agreed upon in the Real Estate Land Exchange Agreement, dated April 1, 2021.
Alternatives:
Decline the proposed land exchange and pursue other remedies to secure title to the Ames Exchange Parcel for Espanola Street.
Recommended Action
Proposed Motion:
Move to approve the Resolution authorizing a land exchange between the City and Ames.
Summary of Ordinance Language
N/A