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with the County of San Mateo, and the other was obtained through a lease with the <br />United States Postal Service (USPS). <br /> <br />The Successor Agency proposed transferring five property interests to the City as <br />governmental purpose properties: <br /> <br />1. Library Parking Lot at the southeast corner of the Downtown Main Library – fee <br />2. Culvert Parcel located at the intersection of Lathrop, Maple, and Elm – fee <br />3. Culvert Parcel located at the intersection of Lathrop and Main – fee <br />4. Courthouse Square kiosks - easement <br />5. Jefferson Avenue Paseo located between a USPS Office and an existing <br />building which provides pedestrian access and an outdoor dining area between <br />Jefferson Avenue and the downtown parking lot located behind City Hall - lease <br /> <br />As a first step in the process, the Oversight Board approved all five property transfers. <br />However, the State Department of Finance (DOF) only approved the transfer of three <br />properties further described under the Analysis section below, and denied the transfer <br />of two others. Staff proposes that all DOF-approved property interests currently held <br />by the Successor Agency be conveyed to the City and retained for governmental use, <br />as all of the properties were acquired for public purposes and will continue to be used <br />for such purposes. <br /> <br />The two properties not approved for transfer are the Jefferson Avenue Paseo and the <br />Culvert Parcel located at Lathrop and Main. The Jefferson Avenue Paseo was not <br />approved because, though it provides a thoroughfare between Jefferson Avenue and <br />the Downtown City Hall parking lot, the DOF argued that the majority of the Paseo was <br />an outdoor dining facility. Nonetheless, since the interest in this property is the result of <br />a leasehold right, it is possible for the City to enter into its own lease agreement with <br />the USPS in order to ensure the Paseo is accessible to the public. <br /> <br />The Culvert Parcel located at Lathrop and Main was not approved because an abutting <br />business was parking cars on the site. The DOF determined that the exclusion of <br />public access was inconsistent with governmental use. It is staff’s contention that the <br />Lathrop and Main Culvert Parcel is necessary for maintenance of the Redwood Creek <br />Culvert since its lot size would permit the staging of equipment and vehicles without <br />impacting traffic on Main Street. Because the DOF did not approve the transfer of this <br />property interest, the Successor Agency must dispose of the property for fair market <br />value. Steps to transfer these two properties are further discussed under Next Steps <br />section below. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />6.1.E. - Page 2