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AGENDA ITEM 5D <br />STAFF ORIGINATOR: John Powell, City Engineer <br />DATE: May 19, 1999 <br />TOPIC: Resolution No 99-41, Approving Payment for the Property <br />Exchange with James and Tracey Douglas. <br />VOTE REQUIRED: Simple Majority <br />BACKGROUND: <br />Easements are required for the installation of sanitary sewer and watermain as <br />part of the Lake Drive Trunk Utility project; and for roadways and drainage as <br />part of the Apollo Drive Phase 3 project. James and Tracey Douglas own <br />property located at 540 Lilac Street. A portion of their property is needed to <br />accommodate a storm water pond. The City agreed to a property exchange with <br />the Douglas's which would satisfy both the City and the Douglas's needs. <br />Ordinance No 4 -99 to exchange the property has had the proper readings and <br />notification. In order to close on the property, the City Attorney has requested a <br />payment from the City in the amount of $4,255.16 be submitted to Chicago Title <br />Insurance. <br />OPTIONS: <br />1. Return to staff for further review. <br />2. Not approve Resolution No 99-41. <br />3. Approve Resolution No 99-41, Approving Payment for the Property <br />Exchange James and Tracey Douglas. <br />RECOMMENDATION: <br />Staff recommends that Resolution No 99-41 be adopted. <br />