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8.A. - Page 2 <br /> posting of notices at the site where public right-of-way is to be vacated. Upon hearing <br /> all public comment and closing the public hearing, the Council may debate and evaluate <br /> all evidence and vote to proceed or abandon the vacation effort. If the vacation effort <br /> proceeds, the land will be free and cleared of the public right-of-way easement. <br /> Upon the vacation of the public right of way easement, the land will belong to the City <br /> free of this encumbrance and will be surplus. The Planning Department has determined <br /> is in the best interest of the City to transfer the property because it will relieve the City of <br /> maintenance obligations and potential liability associated with ownership of the <br /> property, and that the highest and best use of this land is for it to be part of the <br /> proposed development at 601 Main Street. Pending the adoption of the partial street <br /> vacation, staff also seeks authorization to transfer the title of this portion of land to LMI <br /> REDWOOD CITY HOLDINGS, LLC for their use in conjunction with the development at <br /> 601 Main Street. As a condition of the transfer, the transferee will indemnify and hold <br /> the City harmless for claims relating to the property. <br /> ALTERNATIVES <br /> Council may choose not to adopt a resolution to vacate a portion of Bradford Street and <br /> retain the right-of-way as it now exists. <br /> FISCAL IMPACT <br /> This action does not generate any additional financial responsibility for the City at this <br /> time. <br /> ENVIRONMENTAL REVIEW <br /> In Resolution No. 13-12 the Planning Commission found Buyer's proposed project on <br /> the combined Buyer Property and City Property to be within the scope of the previously <br /> approved Downtown Precise Plan Environmental Impact Report for purposes of the <br /> California Environmental Quality Act. <br /> ; <br /> � �_L_ (�,� j ��.��,.... <br /> � r � <br /> JESSICA MANZI <br /> SENIOR TRANSPORTATION COORDINATOR <br /> G�� <br /> BILL EKERN <br /> COMMUNITY DEVELOPMENT DIRECTOR <br />