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7.1.F. - Page 2 <br /> The City Council, in October 2012, adopted its policy on City property disposition. In the <br /> accompanying report, staff recommended consideration of a distribution of proceeds <br /> from property sales. The general categories recommended were Housing, Economic <br /> Development, Capital Projects, and Land Acquisition. Because the City Council will <br /> begin the discussion of Community Benefits, which could encompass any or all of the <br /> above categories (plus many more), the subcommittee recommends that the remainder <br /> of the Block 2 sales proceeds remain in the Parking Fund until such time as the City <br /> Council determines a formal program, or identifies another one time use. <br /> ALTERNATIVES <br /> The Council could direct staff to not reimburse the Capital Outlay Fund. <br /> FISCAL IMPACT <br /> This action will provide additional one time funds for the Capital Outlay Fund, thereby <br /> enabling funding for additional projects. <br /> ENVIRONMENTAL REVIEW <br /> This resolution is not a "project" within the meaning of the California Environmental <br /> Quality Act. <br /> 5: gilt/ <br /> ROSANNE S. FOUST <br /> VICE MAYOR <br /> JOHN SEYBERT <br /> COUNCIL MEMBER <br /> ATTACHMENT <br /> 1. RESOLUTION <br />