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7.1.N. - Page 2 <br /> with Greystar that provides an array of benefits to the community. The Council's Real <br /> Estate subcommittee will work with staff to develop business terms and a final <br /> agreement. <br /> Following its discussion on June 9, the subcommittee recommends a direct negotiation <br /> with Greystar, as they control the surrounding properties and propose to build housing <br /> on the project site. The property is not developable given its topography, where <br /> approximately 2/3 is steeply sloping down to Jefferson Street, with the remaining flat <br /> portion abutting the proposed housing site. A stand alone park or open space would be <br /> difficult to maintain and access. Because of the configuration of the railroad <br /> overcrossing, it is not feasible to widen Jefferson to create additional turn lanes or other <br /> traffic improvements. The properties served the purpose for which they were intended: <br /> to provide sufficient land to create the undercrossing for both vehicles and pedestrians. <br /> ALTERNATIVES <br /> If an agreement cannot be reached with Greystar, the property would remain as a small <br /> open space accessible from Wilson Street for continued maintenance. <br /> FISCAL IMPACT <br /> Exact impacts will not be known until a final agreement is reached and presented to the <br /> City Council. <br /> ENVIRONMENTAL REVIEW <br /> Not a Project under CEQA <br /> 4_ 52, <br /> ROSANNE S. FOUST <br /> VICE MAYOR <br /> 14.--- tty )1, <br /> JOHN D. SEYBERT <br /> COUNCIL MEMBER <br /> ATTACHMENT <br /> -Location Map <br />