City Considering Land Swap As Part Of Hollywood Video Agreement
The Cheyenne City Council will consider trading a couple of city-owned properties as part of an agreement to obtain Hollywood Video parking lot property for the Converse/Pershing/19th Street Roundabout project.
The council held a public hearing on the proposed land swap Monday night, which drew no comments either for or against the proposal. Kaysen says the city owned property that would be traded consists of a pair of residential lots on the north side of Pershing just north of the Hollywood Video parking lot.
Kaysen says the property trade would only be part of the agreement which would allow the city to obtain roughly 9500 square feet of property which is currently part of the parking lot, and which the city needs for the roundabout. Other provisions of the proposal include a financial settlement, development agreement and other items, according to Kaysen. The proposal is the product of negotiations between the property owners and the city.
Kaysen says the entire proposed agreement will be presented to the city council on July 8th for first reading, and would go before the council's Finance Committee on July 15th. The proposal must pass three readings before the full council before being ratified.