Cheyenne Mayor Rick Kaysen says the city has reached an agreement to acquire the part of the former Hollywood Video property it needs for the Pershing/ Converse/19th Street roundabout project.

Kaysen says terms of the agreement call for the city to pay $ 400, 000 for the property as well as swap city owned property directly north of the Hollywood Video site. The two residential lots to be traded will be used for parking facilities and pedestrian access to the Hollywood Video site, according to the mayor. The agreement still must be ratified by the Cheyenne City Council before being finalized.

Even though a deal on acquisition of the property has yet to be finalized, the city has had an agreement in place for some time to access the site for work on the roundabout.