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6.1.F. - Page 11 <br />DRAFT 5/18/2018 <br />redevelopment for public trust purposes; to preserve, enhance or create open space; and to <br />resolve boundary or title disputes. The Commission must also find that the exchange meets <br />certain enumerated conditions. This Agreement sets forth the procedures for and the terms of an <br />exchange pursuant to section 6307. The findings made in support of this Agreement are in <br />accordance with section 6307. <br />L. The land exchange and title settlement described in this Agreement is needed to <br />confirm the State's sovereign interest in certain lands subject to the Trust; to confirm or impress <br />the Public Trust on the lands of greatest value to the Trust in the Maple Street Site; to confirm as <br />non -Trust or terminate the Trust in those portions of the Bradford Street Site and Maple Street <br />Site that are of little value to the Trust; and to allow the Bradford Street Site and Maple Street <br />Site to be used to the greatest benefit of the people of this State. <br />M. The exchange will place or confirm in trust the Trust Addition Lands, which <br />include all of the tidelands and the uplands useful for public access and future Bay Trail <br />improvements within the Maple Street Site. The exchange will terminate the Trust interests in, or <br />confirm as non -Trust, the Trust Termination Lands, which consist of former tidelands within the <br />Bradford Street Site and Maple Street Site that have been filled and reclaimed, are cut off from <br />access to the water, and are no longer needed for Trust purposes, along with historic uplands <br />within those sites. The Trust Termination Lands constitute a relatively small portion of the lands <br />granted to the City by the State. <br />N. The Parties have conducted independent studies and evaluations of the title <br />evidence, the principles of law, and the merits of their legal positions. Commission staff has <br />reviewed an appraisal and other information to analyze monetary values of the Trust Termination <br />Lands and the Trust Addition Lands and has reached an independent conclusion regarding the <br />economic values of these properties. The monetary value of land or interests in land to be <br />received as Trust Addition Lands is equal to or greater than the monetary value of the Trust <br />Termination Lands (or interests therein) given in exchange. <br />O. The land title transfers provided for in this Agreement will be accomplished <br />through the following recorded conveyances, subject to conditions of closing and other terms and <br />conditions of this Agreement: <br />(i) The City will convey to the Commission all of its right, title, and interest <br />in the Exchange Lands by quitclaim deed; <br />(ii) After accepting the above conveyance, the Commission will lease the <br />Trust Addition Lands to the City by an interim Trust lease; and <br />(iii) The Commission will convey by patent the Trust Termination Lands to the <br />City, free of the Trust. <br />P. By this Agreement, the State also disclaims any Trust or other interest of the State <br />in the Rancho Parcel, effective upon the closing of the exchange. <br />Q. The City Council of Redwood City authorized the City to enter into this <br />Agreement by Resolution , adopted by the City Council on . The Commission <br />approved this Agreement by Staff Report at its meeting of <br />El <br />