title
A resolution amending Ordinance No. BL2021-874 to extend the construction commencement date for an easement agreement pertaining to a portion of Alley 371 in connection with a development project (Proposal No. 2021M-013AB-001).
body
WHEREAS, Q & A Holdings, GP (the "Developer") owns property located at 302 McMillan Street and 301 15th Avenue North, comprising Parcel Nos. 09208036800 and 09208029100 (the "Property"); and,
WHEREAS, Ordinance No. BL2021-874 authorized the conditional abandonment of a portion of Alley 371, approved the acquisition of an interest in certain real property and improvements thereon comprising a new alley, and granted an easement above that new alley in connection with the development of a project on the Property adjacent to both sides of a portion of the new Alley 371; and,
WHEREAS, the Developer, as successor owner of the Property, proposes to construct the improvements on the Property and the portion of Alley 371 that was abandoned by Ordinance No. BL2021-874 (the "Project"); and,
WHEREAS, in order to allow for the construction of the Project, Ordinance No. BL2021-874 approved an easement agreement attached hereto as Exhibit A (the "Easement Agreement"), whereby the Metropolitan Government agreed to convey an air-rights easement to the Developer to permit construction, use, and maintenance of improvements above the new Alley 371 in exchange for a payment to the Metropolitan Government in the sum of $30,000; and,
WHEREAS, Section 3(b) of the Easement Agreement provides that in the event the Developer fails to commence construction within five years from the Easement Agreement date, the Metropolitan Government has the right to terminate the Easement Agreement; and,
WHEREAS, due to unforeseen conditions, it is unlikely that the Developer will be able to commence construction within the five-year period and the Developer has requested an amendment to the Easement Agreement, attached hereto as Exhibit B (the "Easement Amendment"), t...
Click here for full text