Title
Accepting a license agreement between the City of Saint Paul and Canadian Pacific Railway, and authorizing payment for property rights necessary for the replacement of Wheelock Parkway Bridge Project.
Body
WHEREAS, on June 6, 2012 the Council of the City of Saint Paul ("City") approved a Final Order (RES PH 12-116) to authorize acquisition of property rights necessary for the replacement of the Wheelock Parkway Bridge over Canadian Pacific Railway ("CPR") tracks between Sylvan Street and Park Street, as depicted in Exhibit A attached hereto; and
WHEREAS, the City and CPR have prepared a License Agreement ("License") for the City's use of CPR's property, attached hereto as Exhibit B; and
WHEREAS, the City has agreed to pay Twenty-Nine Thousand Five Hundred and 00/100 Dollars ($29,500.00) for said property rights, this being a fair and reasonable value as determined by an appraisal and negotiated and agreed to between the City and CPR; and
WHEREAS, the Real Estate Manager has recommended payment for said property rights at the agreed-upon value, plus other considerations as outlined in the License; now, therefore be it
RESOLVED, that the Mayor and City Council do hereby approve said License in a form and content substantially as set forth in Exhibit B, and authorize and direct the proper city officials to execute said License and pay the CPR the agreed-upon value, said sum to be charged to Activity Code C09-2F101-0788-00000;
Financial Analysis
Financial analysis is not applicable.