AGENDA ITEM SUMMARY

Consider approval of a Resolution authorizing the filing of a Petition for Condemnation, using the Declaration of Taking Method, for a fee simple acquisition of right of way and 2 temporary construction easements at 104 Quincy Avenue (Tax Parcel 003 06012), owned by Dunson Properties LLC; PNC Bank, lender. City Attorney Drew Whalen will address.

This acquisition involves 62 sq. ft. of right of way in fee simple at the corner of the lot where N. 6th St. intersects Quincy Avenue, together with 2 temporary construction easements along the lot frontages on both N. 6th and Quincy. Property was appraised and the minimum offer of $100.00 was made to Dunson Properties LLC and its lender, PNC Bank. The owner agreed to convey the required property; however, PNC Bank has not committed. This property is currently part of a Chapter 11 Plan of Reorganization filed by Dunson Properties.

Staff recommends approval of the Resolution.

Just and adequate compensation in the amount of $100.00, based upon an independent fee appraisal, will be tendered at the time of filing the Petition. Any party with an interest in the property will be served and provided an opportunity to make its interests known, including its contention of what constitutes just and adequate compensation. This property is needed in order to align the new interesection of Quincy with N. 6th St., and the extension of Quincy to N. Hill St.