Agenda Item Title:
Authorize Mayor and Finance Officer to Sign an Agreement Between the City of Rapid City and Hay Land, LLC for Exchange of Property (Seger Drive Reconstruction).
Public Works Committee
Origination Meeting Date:
City Council Hearing Date:
Dale Tech / Wade Nyberg
La Crosse Street & Seger Drive
Agenda Item Summary:
Public Works has worked out an agreement with Hay Land, LLC, which owns property south and east of the intersection of Lacrosse Street and Seger Drive. Hay Land is willing to trade property adjacent to Seger Drive, which the Public Works Department needs for the Seger Drive Reconstruction, in exchange for property adjacent to Lacrosse Street. The property to be given by Hay Land to the City is approximately 40,348 square feet. The property to be given from the City to Hay Land is approximately 33,814 square feet. Hay Land also received the reversionary interest in some vacated right-of-way (former March Avenue). Also, Hay Land is dedicating some drainage and utility easements to the City, over and across the property the City is transferring. The freeholder report is linked below.
Funding Source & Fiscal Impact (if applicable):
Funding Source & Fiscal Impact Notes:
No money will change hands with this transaction.
City Council Recommendation Action: