CITY of RAPID CITY Agenda Item Summary
Meeting Date: 3/27/13		Commission, Board or Committee: N/A
Staff Contact: Wade Nyberg		PW Committee or L&F Committee: 3/27/13
Petitioner: N/A		City Council 1st Reading: 3/27/13
Location: Main Street Square		City Council 2nd Reading: N/A
Agenda Title:
Accept Quitclaim Deed from MHL, LLC for S ½ of vacated alley adjacent to Main Street Square
Summary:
The attached deed is in fulfillment of an agreement the City made with MHL, LLC in August of 2011. MHL, LLC owns the property that comprises the Shops at Main Street Square. The City agreed to vacate the alley between the parking ramp and the South ½ of the block (including Shops at MSS) in exchange for MHL’s agreement to deed to the City the vacated portion of the alley adjacent to its buildings.  When the alley was vacated, by operation of law, the adjoining property owners received ownership of the ½ of the alley adjacent to their property. The City owned all adjacent property except for the MHL Buildings, so this deed gives the City ownership of the entire vacated alley.  The City agreed to give MHL an easement over the vacated alley to allow access to the MHL properties and allow the encroachments of awnings, vestibules, etc. that were constructed during the remodeling of the buildings.  That easement will be forthcoming on a future agenda.
Funding Source & Fiscal Impact (if applicable):
N/A
Recommendation:
Action: Choose an item. Accept Quitclaim Deed Notes: Click here to enter text.
Options:
N/A
Attachments & Links:
Click here to enter text.	Click here to enter text.		Click here to enter text.
Quit Claim Deed	Click here to enter text.		Click here to enter text.
Click here to enter text.	Click here to enter text.		Click here to enter text.