Title
Exchange of Land Rights along the LYNX Light Rail Corridor with East West Station Retail LP
Action
Action:
A. Adopt a resolution authorizing an exchange of land rights between the City of Charlotte and East West Station Retail LP or its successors and assigns ("Property Owner") involving parcel identification number 121-015-04,
B. Authorize the City Manager to execute all necessary documents to complete the exchange of land rights between the City of Charlotte and Property Owner, and
C. Adopt a budget ordinance appropriating $287,934 from East West Station Retail LP for full and fair consideration of CATS-owned property in the CATS Capital Investment Plan Fund.
Body
Staff Resource(s):
John Lewis, Jr., CATS
John Howard, CATS
Explanation
* The Property Owner is proposing to build a 23-story commercial development ("Development") in South End near the intersection of East Boulevard and Camden Road, adjacent to the LYNX East/West Station, in Council District 3.
* In order to construct the Development, the Property Owner requires use of some of the City's excess LYNX right-of-way. The City's ownership of the LYNX right-of-way between Scaleybark and Uptown is a "charter" right-of-way that the City originally purchased from Norfolk Southern Railroad.
* The City's right-of-way is approximately 130 feet wide, which is wider than necessary for the City's use and development of the LYNX Blue Line and Rail Trail. Therefore, per the City's Administrative Policy, the City generally retains approximately 70 feet in width while allowing the excess right-of-way of approximately 30 feet on either side to be used by the adjacent Property Owner to facilitate transit supportive redevelopment.
* In order to construct the Development, the Property Owner must also relocate certain fixtures owned by the City, including a decorative water fountain, bike racks, and two Overhead Catenary System poles which are a part of the LYNX Rail System.
* The Property Owner will excha...
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