AgdaPkt 2004-03-22 - Laserfiche WebLink

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� — --- ` W REPORT To the Honorable Mayor and City Council — From the City Manager M�rch 22, 2004 Subject Property Dedication Agreement and Acceptance of Easement and Right-of-Way associated with the Ralston Avenue/Marine Parkway/Route 101 Interchange Improvement Project. Recommendation 1. Authorize the City Manager to execute a Property Dedication Agreement; 2. Authorize the City Manager to execute a Property Access Agreement, and 3. Direct the City Clerk, by motion, to accept on behalf of the City, the Public Service Easement and Public Street Right-of-Way offered by the Oracle Corporation (current land owner), and record the two associated Quit Claim Deeds, in the office of the County Recorder of San Mateo County. Background The Oracle Corporation is a major participant of the Ralston Avenue/Marine Parkway/Route 101 Interchange Improvement Project, both through the Redwood _ Shores Facility District No. 99-1 (Shores Transportation District) and the development fees contribution for BelmonYs Island Park Development. Oracle also owns property in the northeast quadrant of the project, some of which is required to complete the project. The majority of the Oracle-owned acreage needed is along Oracle Parkway, from the vacant parcel at the corner of Oracle Parkway and Marine Parkway. The remainder is a sliver from the same parcel along Marine Parkway. The "majority" and the "remainder' are shown on the attached aerial photo. Staff has been working with Oracle since the design stage of the project, to acquire the rights to these areas. This Proaertv Dedication Aareement is the culmination of such effort. In essence, the completion of the new alignment of Island Parkway will eliminate the need for the local street from the point of realignment to the intersection with Oracle Parkway. This portion of the street can be subjected to abandonment (see attached map). The outcome of the abandonment is solely a City Council decision, and cannot be predicated by any agreement. Therefore, this Agreement only outlines the City's commitment to entertain such a request from Oracle once the street is no longer necessary. If the abandonment is successful, it would be deemed an even exchange without any monetary compensation. If the effort fails, Oracle will be compensated for the land at an agreed upon value of $362,500 (appraised value). Staff has also requested authorization to stage the groundbreaking ceremony, (scheduled for April 5"', 2004), on the same Oracle parcel. Therefore, authorization from the Council is needed to enable the City Manager to execute the Property Access — Agreement with Oracle. Page 1 of 2