TO: Board of Trustees
FROM: Mary DeLoretto, Interim Executive Director
PRESENTER(S): Paul Drake, Director of Real Estate & TOD
SUBJECT:
title
R2021-07-02 - Resolution Authorizing the Purchase Real Property Consisting of 2.7 Miles of the Utah-Idaho Central Railroad Corridor (UICRR) from the Utah Department of Transportation (UDOT) for Future Transit Purposes in Box Elder County
end
AGENDA ITEM TYPE:
Resolution
RECOMMENDATION:
Adopt Resolution R2021-07-02 authorizing the Executive Director to execute the attached purchase contract with the Utah Department of Transportation in the amount of $2,755,000.
BACKGROUND:
In 2007, Box Elder County residents passed an initiative to allocate the second quarter sales tax to support the extension of commuter rail to Brigham City. With those accumulated funds, UTA is currently working with willing sellers to purchase a 50-foot corridor adjacent to Union Pacific’s track through Box Elder County. Acquiring these properties ahead of housing and commercial development will reduce future impacts and costs. UTA has a surveyor developing right of way plans and other documents needed to purchase the land.
DISCUSSION:
UTA has been approaching property owners and purchasing parcels from willing sellers as they are identified. As part of the acquisition efforts, UTA has been working with UDOT to acquire the Utah-Idaho Central Railroad corridor (UICRR). UDOT has completed the process to surplus the corridor and is willing to sell it to UTA for the appraised value of $2,755,000. Because the purchase price is above $1M, the Board must pass a resolution authorizing the purchase.
ALTERNATIVES:
The UICRR corridor is in the preferred location and alignment for a FrontRunner North Extension. The risk of not moving forward at this time is the potential of increased future land costs and new developments that will conflict with the project.
FISCAL IMPACT:
The purchase of the UICRR corridor for FrontRunner North Extension Corridor Preservation Project is included in the UTA 2021 Capital Budget. There will be ongoing weed control costs to hold and maintain the property until it is developed.
ATTACHMENTS:
1) Resolution