Label
IronUnits, LLC Front Street Easements
Bill Burkett - Development (x1692)/Paul F. Syring - Law (x1020)
Revised
Title
Authorizing the Mayor to (i) enter into one or more easement agreements (the "Easements") with IronUnits LLC for the grant of a surface easement and aerial easement for the installation, operation, and maintenance of a rail line and conveyor system across portions of City-owned Front Street right-of-way and (ii) consent to the grant of an easement from the Toledo-Lucas County Port Authority over certain land adjacent to the Front Street right-of-way over which the City has existing easement rights (the "Port Easement"), all for purposes of the development, construction and operation of the Cleveland-Cliffs Inc. HBI Production Plant Project on adjacent land (the "Project"); authorizing the Mayor to execute needed instruments and agreements in connection with such easement grants; authorizing the Mayor to accept and deposit funds as reimbursement for City incurred expenses associated with such easement grants; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The City of Toledo operates, maintains, and owns a certain public dedicated right-of-way known as Front Street, including that portion of Front Street in the vicinity of the Front Street overpass and the intersection of Front Street with Millard Avenue. IronUnits LLC, a subsidiary of Cleveland-Cliffs Inc., is in the process of developing the Project on property immediately adjacent to the Front Street right-of-way. A surface easement in the vicinity of and under the Front Street overpass, an aerial easement in the vicinity of the Front Street and Millard intersection, and the City's consent to the Port Easement are needed from the City to facilitate the construction and operation of the Project. The Project will provide economic development, job creation, and an enhanced tax base for the City of Toledo. IronUnits LLC has agreed to reimburse the City, as consideration for the easem...
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