11 Price Street Public Hearing - Laserfiche WebLink

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'MEMO February 21, 2002 TO: FROM: SUBJECT: Mayor and City Council Members City Manager Larry Sch,.e1~ Updated information reo~ardino~ closino~ of Price ~(treet I have previously forwarded to you a memorandum dated February 4, 2002 which detailed the City's attempt to obtain a formal letter from Lamar County requesting the abandonment of the Price Street Right-of-Way. In addition, the memorandum summarized state law with regard to the process cities and counties must follow in divesting themselves of real property, including streets rights-of-way. You will also recall that at City Council's last Council meeting the Council tabled any further action with regard to the abandonment of the Price Street right-of- way until such time as a formal request for abandonment of said right-of-way is received from the County. Only after receipt of that request can certain issues raised by the Planning & Zoning Commission be addressed as well as other related issues dealing with relocation of utilities. Since the time of the City Council meeting. I have been contacted by two County Commissioners seeking information regarding the process for abandonment of Price Street. In response to those inquiries, I forwarded a duplicate copy of the letter I previously forwarded to the County Judge and also explained the process for abandonment. Because it appears the County may be close to taking formal action on a request for abandonment of Price Street, I am including for your review another copy of my prior memorandum because if we receive a formal request from the County for abandonment, the issue of fair market value and the opportunity to exchange the Price Street right-of-way for the Hearne Street right-of-way will become an immediate issue. I encourage you to refer to this memorandum and I also am pleased to advise you that based on my latest research, it does appear the City would be able to exchange the Price Street right-of-way for the Hearne Street right-of-way, as long as the City Council determines the fair market value of the two properties is the same, and also assuming such an exchange is acceptable to the County.