AgdaPkt 2003-04-14 - Laserfiche WebLink

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7 z -c/ I REPORT To the Honorable Mayor and City Council From the City Manager April 14, 2003 Subject Resolution of Necessity— Ralston /Marine Parkway Interchange Improvements Project Engineering File No. 803 -02 Recommendation Adopt a resolution authorizing the use Eminent Domain proceedings to acquire certain portions of parcels belonging to the Oracle Corporations, for the Ralston /Marine Parkway Interchange Improvements Project, that would enable the improvements to the subject interchange function as designed and approved by Caltrans. Background The lands involved in this Resolution are portions of parcels owned by the Oracle Corporation, which are needed to complete the Ralston /Marine Parkway Interchange Improvements project. The largest piece needed is the area for the widening of the southbound Oracle Parkway. This widening is needed to feed freeway on -ramp traffic from Oracle Parkway to the new two -lane on -ramp that the project will install. The remainder are pieces needed for curb returns, new sidewalk along Shoreway Road, and some maintenance easements. The portions of the parcels to be acquired are shown on the attached Exhibit 1, and consist of 0.13 acres, collectively. The Ralston /Marine Parkway Interchange Improvements project is being funded in part by transportation grants from the Federal Government. Therefore, Federal Acquisition Guidelines have to be strictly adhered to, in order not to jeopardize the grants. In accordance with the Guidelines, the County of San Mateo was retained as the Right-of- Way (ROW) agent. At the time of the writing of this report, an appraisal was made to determine the property's fair market value. This appraisal is being reviewed and approved by the ROW agent. The value of the land is approximately $2.5 million per acre. An offer will then be made to Oracle in compliance with the Guidelines. Oracle has been an integral part of this project, and has been aware of the need for this land from the beginning. Oracle is not only a major contributor to the Redwood Shores Community Facility District (RWS -CFD) 99 -1, which is funding a major part of this project, but they are also funding the Belmont portion of the Island Park direct access. Oracle's representative has been kept informed as much as the Federal Guidelines would allow. Oracle has been cooperative and will likely agree to dedicate the areas that we need. A portion of Island Parkway in Redwood City will no longer be needed once the direct access is in operation. The land on both sides of the street along this portion belongs to Oracle. If the street is to be abandoned, the rights to the land would revert back to Oracle. Page 1 of 2