Closing Documents Illinois Street - Fidelity Office Building Settlement AgreementMEMORANDUM
TO: City of Carmel
One Civic Square
Carmel, IN 46032
FROM: Craig M. Parks
American Consulting, Inc.
7260 Shadeland Station
Indianapolis, IN 46256
. DATE: July 14, 2005
RE: Project: 116th Street & Spring Mill Road / Illinois Street
Code: N/A
Parcel: 5
County: Hamilton
Owner(s): Fidelity Office Building II, L.P.
c/o Mr. Michael Wells
SUBJECT: Administrative Settlement
JUL 212005
The City's acquisition agent has pursued the attempted acquisition of the above subject parcel to the point where
a complete impasse with the owner has been reached in regards to the amount of just compensation.
The City's fair market value determination of 5421 000.00 for 0.750 acres of permanent right-of-way, $3,200 for
cost to cure, and 513,450 for a 0.269 acre drainage easement was offered to the owner(s). During the
-negotiation process, the property owner(s) rejected this offer arguing the project plans did not provide the desired
access to the site. The property owner(s) agreed to the original offer with the following modifications:
• Project plans be modified to included replacement of the existing drive with a new right -in / right -out drive
onto 116th Street as illustrated in Exhibit B.
• Project plans be modified to add a right -in / right -out drive onto Illinois Street as illustrated in Exhibit B.
• Fidelity Office Building II, L.P. will dedicate the proposed 0.269 acre drainage easement to the City of
Carmel at no cost to the City.
• Fidelity Office Building II, L.P. will pay for the cost of all construction and engineering fees associated with
the installation of the Illinois Street drive. These costs are outlined.in Exhibit C.
Given that the above modifications result in a lower settlement amount than the original offer, the City decided to
accept the counter offer.
The owner has agreed to settle for 5421 000 for fee simple right of way and 53,200 for cost of cure. Additionally, .
the owner has agreed to dedicate the proposed 0.269 acre drainage easement at no cost to the City and
reimburse the City 522,875.99 for design and construction of the Illinois Street drive.
The City believes it is in its best interest to settle this parcel as stated above.
Therefore, the City's acquisition agent is directed to the owner(s) counter offer.
THIS ADMINISTRATIVE SETTLEMENT APPROVED.
EXHIBIT B
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CITY OF CARMEL
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FIDEIJTY OFFICE PARK
ACCESS EXHIBIT
man.
•••••
to
Project:
Exhibit C
REI Access Drive
Item No.
Description
Unit
Qty.
*Unit Cost
Item Cost
59
INLET, M10
EA
1
$ 1,364.26
$ 1,364.26
45
PIPE, TYPE 2, CIRCULAR, 12 in.
FT
122
$ 23.23
$ 2,834.06
47
PIPE, TYPE 2, CIRCULAR, 21 in.
FT
30
$ 31.05
$ 931.50
51
PIPE END SECTION, 21 in.
EA
2
$ 793.06
$ 1,586.12
37
HMA FOR APPROACHES, TYPE C
TON
99
$ 70.91
$ 7,037.11
14
COMPACTED AGGREGATE, 53
TON
108
$ 16.70
$ 1,807.94
Total Construction Cost = $ 15,560.99
Total Engineering Cost
incurred to revise drive from $
6/1/05 - 7/8/05
7,315.00
Total Cost = $ 22,875.99
JAMES BRIINARD, MAYOR
EL
LETTER OF TRANSMITTAL
Date — O
To: Mr. Michael S. Walsh, Esq.
11350 North Meridian Street, Suite 420
Carmel, IN 46032
From: Mike McBride, P.E.
Department of Engineering
City of Carmel, Indiana
Hand Delivery to M. Walsh
RE: Fidelity Office Building II, L.L.P. - Illinois Street Project
Attached please find check in amount of S424,200.00 payable to Fidelity Office Building
II, L.L.P. in settlement of right-of-way acquisition and damages.
Also attached are all original documents pertaining to this settlement. The Right of Entry
has been executed, per your direction, and notarized. Documents are ready for recording
and distribution as outlined in the City's Right -of -Way Procedures.
G/7 7/c/ 3 it ra*r
Oaltc
DEPARTMENT OF ENGINEERING
ONE CIVIC SQUARE, CARMEL, IN 46032 OFFICE 317.571.2441 FAX 317.571.2439
E1LVI. engineering@ici.carmel.in.us