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C�� I C-2 <br /> Currently, the City has acquired the rights to construct on these areas through an <br /> Aareement for Possession and Use executed on May 29, 2003, along with an escrow <br /> deposit for the agreed upon value. This dedication will terminate the agreement and <br /> the escrow deposit will be returned to the project at the successful completion of the <br /> street abandonment. <br /> Complete copies of the Property Dedication Agreement and the Agreement for <br /> Possession and Use are available for review at the City Clerk's Office. <br /> Alternative <br /> If the Property Dedication Agreement is not executed, the deposited funds will go to <br /> Oracle to pay for the areas needed without any provision for these funds returning to <br /> the project <br /> Fiscal Impacts <br /> This action does not change the fiscal impact from the earlier action of approving the <br /> execution of the "Agreement fo Posses ;on and Use". � <br /> � <br /> � ; <br /> S. P er Vorametsa ' Bruce Liedstrand d Everett <br /> enior Civil Engine Community Development Services Director City Manager <br /> SPV:ss <br /> s o/ PSE 8 ROW 02c1e for MPW IC - <br /> Page 2 of 2 <br />