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1l. SW Metro Park & Ride EasemeMEMORANDUM CITYOF CHAN SEN 7700 Market Boulevard PO Box 147 Ohanhassen. MN 55317 Administration Phone: 9522271100 Fax 9522271110 Building Inspections Phoebe: 952227 111}0 Fax 952 227 1190 Engineering Phone: 9522271160 Fax: 952227 1170 Finance Phone: 9522271140 Fax: 952227 1110 Park a Recreation Phone: 9522271120 Fax 9522271110 Recreation Center 2310 Coulter Bgulevard Phone: 9522271400 Fax: 952227 1404 Planning & Natural Resources Phone: 952 2271130 Fax 9522271110 Public Works 1591 Park Road Phone; 952 227 1300 Fax: 952227 1310 Senior Center Phone 952 227 1125 Fax: 952.227 1110 Web Site www cl chanhassen mn us TO: Todd Gerhardt, City Manager FROM: DATE: Justin Miller, Assistant to the City Manager November 3, 2003 RE: Termination of Easement and Mutual Release for Southwest Metro Transit Commission Park and Ride Permanent Easement BACKGROUND Since 1992, the City has granted Southwest Metro Transit Commission a permanent easement for 120 parking spaces on the former bowling alley property. One of the requirements in the redevelopment of this area was that the selected developer needed to incorporate the same number of parking spaces for Southwest Metro Transit into their project. When Bloomberg Companies (later assigned to Market Street Station, LLC) was selected to develop the site, they stated their desire to move the permanent easement to a location further east on Bloomberg owned property. Southwest Metro and the developer are in the final stages of finalizing this relocation. As both parties are preparing to conclude the sale of this property, it has been determined that the City and Economic Development Authority need to release the terms of the permanent easement for the Park and Ride on this property. While action to release the easement will be taken by approving this resolution, the release will not be recorded until Southwest Metro and the City are satisfied that the easement will be relocated in a manner satisfactory to all parties involved. RECOMMENDATION Staff recommends the City Council approve a resolution releasing the permanent easement for a Southwest Metro Transit Commission Park and Ride facility. This action requires a majority of the Council. The City of Chanhassen · A growing comrnunity with c',ean lakes quality schools, a charming downtowr', thrivirg businesses ¢,,'inding trails and beautilul parks A ,great place tc; v'~ v'~ork a[,(i play