8.7 Agr Access Improvements CITY OF SALINA
REQUEST FOR COMMISSION ACTION DATE TIME
2/9/1998 4:00 P.M.
AGENDA SECTION: ORIGINATING DEPARTMENT: APPROVED FOR
NO. 8 City Attorney AGENDA:
ITEM
NO. 7 Greg Bengtson
BY: BY:. ~g~
Item:
A resolution authorizing the Mayor to execute an agreement among Bradley Operating Limited
Partnership, a Delaware limited partnership; Green Lantern, Inc., a Kansas corporation; and the
· City of Salina, Kansas, regarding construction of access improvements for Mid State Plaza in
relation to Magnolia Road.
Backm'ound:
It was necessary in 1995 for the City to acquire highway right-of-way for the Magnolia/I-135
interchange project from Equitable Life Assurance Society of America ("Equitable") as owner of
the Mid State Mall (now known as "Mid State Plaza"). As part of the agreement to acquire the
right-of-way, the City also paid to Equitable the sum of $56,940, which Equitable was to use to
complete access improvements to Magnolia Road within nine months following completion of the
interchange project.
In June of 1996, Equitable sold the Mid State Plaza to DMH & Associates, LLC, a Kansas limited
liability company ("DMH"). At that time the City approved the assignment of Equitable's rights
and responsibilities regarding construction of the access improvements to DMH.
DMH recently sold the Mid State Plaza to Bradley Operating Limited Partnership, a Delaware
limited partnership ("BOLP"). BOLP has agreed to assume the obligation to construct the access
improvements in accordance with the original agreement between the City and Equitable. In
conjunction with the development of plans for the South Ninth and Magnolia intersection, plans for
the access improvements have been developed to the extent that the obligations of the City and
BOLP in completion of the access improvements can be specifically addressed. That is the purpose
of the proposed agreement.
Both the internal and external components of the improvements to be constructed under the
proposed agreement will benefit the general public. It will also assure that the funds initially paid
by the City for the access improvements will be fully utilized for that purpose, thus allowing the
original agreement with Equitable to be closed out. ' '
Green Lantern, Inc. is a party to the proposed agreement as the owner of the recently platted lot
located on the southwest comer of the intersection of South Ninth and Magnolia. The planned
access improvements will be partially located on that lot.
Recommendation:
Approve Resolution 98-5244 authorizing the Mayor to execute the proposed agreement.