To

Mayor and Council

Subject

Property Exchange with W.C. Bradley Company - Front Avenue, 11th Street, and Bay Avenue

Initiator

David Arrington, Deputy City Manager

Recommendation

Authorize the City Manager to execute a property exchange with W.C. Bradley \n \n Company conveying approximately 3,600 sq. ft of right of way on the south side \n \n of 11th Street between Front Avenue and Bay Avenue and 1,600 sq. ft. of \n \n property on Bay Avenue adjacent to the Riverclub for approximately 1.295 acres \n \n of property formerly known as the 1300 block of Front Avenue right-of-way.

Approval

Pending

Background

The City conveyed the Front Avenue right-of-way from 13th St. to 14th St (1300

Block) to Fieldcrest Mills in 1996 for the required right of way to construct

the 13th Street bridge. This section of Front Avenue is part of the original

street grid for the City of Columbus. The estimated value of the property at

the time was $178,000. Adjusted for inflation the property value today is

approximately $265,000. The property was later purchased by the W.C. Bradley

Company along with the rest of the Fieldcrest property. The majority of the

road bed remains in tact on this section of Front Avenue. The roadway has been

closed to the public but has been utilized for construction staging for the

Whitewater project and 14th Street Pedestrian Bridge project. The area is

occasionally used by the public for special events. The property will

continue to be utilized for staging purposes for the Riverwalk Extension, 14th

St. Pedestrian Bridge Plaza, and Mott House Renovations.

Analysis

The City desires to reopen the 1300 block of Front Avenue at some point in the

future for public use as a matter of public safety and improved traffic flow.

The property is adjacent to three major construction projects; 13th -14th St.

Riverwalk extension, 14th Street Pedestrian Bridge Plaza, and the Mott House

Renovations. Property on the east and west side of the road is projected to

be developed and critical infrastructure remains in the former road bed. The

City does not intend to open the 1300 block of Front Avenue to the public until

all of the current constructions projects are complete except for special

events. The construction projects are projected to take 18-24 months to

complete. Upon completion of these projects the City would plan to make

improvements to the roadway to bring the block in compliance with the typical

street section for the remainder of Front Avenue and in compliance with current

UDO requirements. In consideration of the conveyance, the City will agree to

W. C. Bradley reserving the right to make minor adjustments in the future to

the alignment of the road at their expense based on final development plans for

the adjacent property. Any adjustments will have to be consistent with the

typical road sections attached. Should development plans be finalized prior to

the City improvements being designed, the City has committed to work with W.C.

Bradley on incorporating the alignment changes in the City improvements. This

accommodation is not anticipated to impact the cost of improvements since the

typical sections would be maintained. All easement recorded and prescriptive

will remain in effect for all utilities and other purposes.



W.C. Bradley Company is planning to redevelop two locations on 11th Street and

Bay Avenue. The proposed redevelopment will require expansion of the existing

buildings at both locations. The 11th Street development proposes utilizing

approximately 3,600 sq. ft. of property currently considered right-of-way for

11th Street. This location consists of a small grass area and the remnants of

an old loading dock for a warehouse. The second location is a proposed

expansion of the Riverclub located on Bay Avenue. The proposed expansion will

extend the building line approximately 50+ feet south and result in a

relocation of the current outdoor patio area. The expansion will require

approximately 1,600 additional sq. ft. on the southwest corner of the existing

building. The majority of this area is on the bank of the Riverwalk and has

limited public utility. Riverfront property in the area has been recently

appraised at $8-10 per sq. ft. Using these values. the land value for these

two properties would be approximately $40,000-$50,000.

Financial Considerations

The City would incur the cost for legal expenses and surveying of the

properties. The cost is anticipated to be approximately $2,000.

Projected Annual Fiscal Impact Statement

The projected advalorem tax on the property conveyed by the City to W.C.

Bradley is $1,710 per year. The advalorem tax on the 1300 block of Front

Avenue property is $2,135 per year. Until improvements are made to the

property being convey by the City to W.C. Bradley, there will be a net

reduction in advalorem tax revenue of $425 per year.

Legal Considerations

Council must approve all real estate transactions

Recommendations/ Actions

Authorize the City Manager to execute a property exchange with W.C. Bradley

Company conveying approximately 3,600 sq. ft of right of way on the south side

of 11th Street from Front Avenue to Bay Avenue and 1,600 sq. ft. of property on

Bay Avenue adjacent to the Riverclub for approximately 1.295 acres of property

formerly the 1300 block of Front Avenue right-of-way.

No attachments for this document.