The City recently completed the second phase of the surface parking lot adjacent to the Enmarket Arena, which now accommodates approximately 2,000 vehicles. Planned is the Cohen Street multimodal connector, a drive that will provide an additional means of ingress and egress at the northeastern end of the parking lot. This will help to alleviate congestion at peak times during events at the Arena, as well as increase access to multimodal infrastructure and connectivity options in the area.

To facilitate the Cohen Street multimodal connector project, the City must purchase certain lands across private property currently owned by Chatham Steel Corporation. The City has procured title work and an appraisal from a well-qualified, third-party appraiser. Chatham Steel Corporation has agreed to grant the requisite property at $381,000 with condition that a railroad easement be reserved for continued use of their existing spur.

Note that this item simply requests authorization to proceed with the real estate transaction. If approved, the funds being used for this purchase will be deducted from the funding source already approved by Council last year for the Arena parking lot and Cohen Street multimodal infrastructure. Further request authorization for the City Manager to execute all necessary closing documents.

Approval