Ordinance No. 2021-6-11: To abandon all right, title and interest of the City, in and to that certain Right-of-Way, situated in the James Ledbetter Survey, Abstract No. 545, City of Plano, Collin County, Texas, and being located in the Right-of-Way of 14th Street (FM Highway No. 544); quitclaiming all right, title and interest of the City in such Right-of-Way to the property owner, 4301 Development LP, to the extent of its interest; authorizing the City Manager or his authorized designee to execute any documents deemed necessary; and providing an effective date. Adopted

4301 Development LP owns property on the north side of 14th Street east of Los Rios Boulevard. It is developing the property for retail and neighborhood office purposes.  As part of this development, they have requested the abandonment of 734 square feet of 14^th Street Right-of-Way adjoining the property, so it can be incorporated into the new development.

The City owns a fee interest in the Right-of-Way, which has a fair-market value of $5,138.  The Abutting Property Owner has agreed to pay this amount for the property.

The Engineering Department has reviewed this request and determined there will be no detrimental effect on the City if the Right-of-Way is abandoned and quitclaimed to the Abutting Property Owner.  Staff recommends approval of the request to abandon the identified portion of 14^th Street Right-of-Way, as requested.

Approval of this right-of-way abandonment will result in a one-time revenue in the estimated amount of $5,138 to the Street Improvements CIP.  

Approval of this item will support the City's Strategic Plan Critical Success Factor of being an Excellent, Innovative, and Accountable City Government.