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When any street, alley or public highway, or a portion thereof, is vacated or narrowed by the municipality pursuant to the provisions of this subchapter or the provisions of R.C. Chapter 723, and the relocation of any conduits, cables, wires, towers, poles, sewer lines, steam lines, pipelines, gas and water lines, tracks, or other equipment or appliances of any railroad or public utility, whether owned privately or by any governmental authority, located on, over or under the portion of the street, alley, or highway affected by such vacation or narrowing, is not required for purposes of the municipality, including urban renewal, any affected railroad or public utility shall be deemed to have a permanent easement in such vacated portion or excess portion of such street, alley or highway for the purpose of maintaining, operating, renewing, reconstructing, and removing such utility facilities and for purposes of access to such facilities.
(R.C. § 723.041)