Subject:
Title
Consider authorizing Interim City Manager Ande Banks to execute a Property Transfer and Dedication Agreement with James Madison University for the University Blvd Relocation Project.
Body
Presented By: Thomas Hartman, PE, PMP, LEED AP, Director of Public Works
Recommendation and Review
Public Works and James Madison University (JMU) have been working cooperatively on the University Blvd Relocation Project, where University Blvd will be realigned between Oak Hill Drive and Driver Drive. To accomplish this relocation JMU has agreed to transfer property to the City for the project, as outlined below. The value of the property that JMU will transfer to the City is over $3.8 million dollars. This property transfer is in addition to a $5 million dollar contribution JMU has made to assist in funding this construction project.