ACTION REQUESTED:
Title
Communication from the City Manager and Assistant City Manager with a Request to APPROVE an EASEMENT AGREEMENT for Access to Public Street from the Property 330 SW WATER ST., Peoria, IL 61602 (PIN:18-09-411-003).
Body
BACKGROUND: Historically this location had access through pavement on driveways, lots and Harrison street (which used to extend past water). Today, it is a property without direct street access and ‘land locked’ by a city owned parking lot. In order to facilitate confident development of this property the city needs to provide assurance that the property has street access with an easement.
This easement is only revokable with a mutual decision or upon purchase of connective property by the property owner.
FINANCIAL IMPACT: There is no cost to this easement, but may limit future development options.
NEIGHBORHOOD CONCERNS: The riverfront park plans will need to take into account access for this property.
IMPACT IF APPROVED: Developer is able to proceed with development financing and redevelopment of the property.
IMPACT IF DENIED: Developer is at risk to not receive financing to revitalize the property.
ALTERNATIVES: Build a permanent street all the way to the property or, sell part of currently existing parking lot to the property owner.
EEO CERTIFICATION NUMBER: n/a
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2017 - 2032 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Grow Peoria
2. Choose an item.
3. Choose an item.
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Invest in our infrastructure and transportation.
2. Choose an item.
3. Choose an item.
DEPARTMENT: City Manager's Office