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<br />6.28 <br />Page 1 <br /> <br />REPORT <br /> <br />To the Honorable M.a.yorandCity Council <br />From the CityMallaer <br /> <br />November 19, 2007 <br /> <br />SUBJECT <br />Resolution of intent to vacate a portion of Island Parkway in Redwood Shores, reserving <br />a public service easement. <br /> <br />RECOMMENDATION <br />Adopt a resolution of intent to vacate a portion of Island Parkway located west of Oracle <br />Parkway; reserving a public service easement; setting a public hearing for January 7, <br />2008, and ordering posting of notice thereof. <br /> <br />BACKGROUND <br />Island Parkway was realigned as part of the Ralston/101 Reconfiguration Project and <br />now intersects Marine Parkway at the northbound exit of US Highway 101 at Ralston <br />(Attachment 2). The new configuration makes a portion of the previously existing Island <br />Parkway no longer necessary as a public thoroughfare. Please see plat map and legal <br />description (Attachment 1) of the proposed vacation. Please see aerial photos of the <br />project area both before and after construction (Attachment 2). <br /> <br />The new interchange configuration required that the City secure right-of-ways from area <br />landowners, including Oracle Corporation (Attachment 3). On March 22, 2004, Council <br />approved an agreement between the City and Oracle Corporation whereby the City <br />receives the right-of-way to accommodate the new interchange configuration if the <br />disused portion of Island Parkway is vacated. And, if successfully vacated, Oracle <br />Corporation receives the fee title to the lands which comprise that disused portion of <br />Island Parkway since Oracle owns parcels on both sides of the right-of-way to be <br />vacated. A Public Service Easement will be reserved on the vacated parcel to <br />accommodate utilities and provide public access. Failing successful vacation of the <br />disused roadway, Oracle Corporation receives the previously agreed upon sum of <br />$362,500.00, which has been placed into escrow for this purpose. <br /> <br />The Planning Commission made a finding that this abandonment is consistent with the <br />General Plan at their meeting on October 16, 2007. If Council adopts a resolution of <br />intent to vacate, a public hearing will be scheduled for January 7,2008 and Council will <br />determine whether or not to approve the proposed vacation after hearing any protest. <br /> <br />ALTERNATIVES <br />Council may choose not to vacate the disused portion of Island Parkway. The roadway <br />would remain an unmaintained dead end. Oracle Corporation would receive funds in <br />escrow. <br /> <br />FISCAL IMPACT <br />Funds in the amount of $362,500.00 for the acquisition of the right-of-way from Oracle <br />Corporation have been appropriated and in escrow since May 2004. If the vacation is <br />