A RESOLUTION AUTHORIZING THE MANAGER TO EXCHANGE PROPERTY ADJACENT TO JAY STREET AND EXECUTE A RIGHT-OF-WAY ENCROACHMENT AGREEMENT (2008-10-15/R-9)

WHEREAS, the Town Council has received a petition requesting that the Town exchange property in the Jay Street area, and

WHEREAS, the exchange would benefit the Town’s open space, greenways, and stream protection programs, and

WHEREAS, the value of the property that the Town would receive is greater than the value of the land the Town would exchange, and

WHEREAS, the exchange would increase the amount of Town owned open space, and

WHEREAS, roadway improvements within the Jay Street right-of-way would maintain or enhance property values, and

WHEREAS, emergency vehicle access would be provided for existing lots and structures, and

NOW THEREFORE, BE IT RESOLVED by the Council of the Town of Chapel Hill that the Council hereby authorizes the Manager to exchange approximately .003 acres of Town owned property identified as part of Chapel Hill Township Tax Map 7.94.B.27 for approximately 1.1 acres of property along Jay Street identified as portions of Chapel Hill Township Tax Maps 94.B.9 and 94.B.9A, and subject to the approval of the Town Manager, the installation of privately maintained improvements within the Jay Street right-of-way to provide for access by emergency vehicles

This the 15^th day of October, 2008.