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Public Hearing — Resolution to Authorize Negotiations <br />Sale of City -owned Real Property at 1301 and 1305 West 12th Street <br />October 16, 2018 <br />Page 3 <br />ENVIRONMENTAL IMPACT <br />There are no environmental impacts associated with this action. <br />FISCAL IMPACT <br />There is no fiscal impact at this time. Revenue from the sale of these City -owned properties must <br />be recognized in the Select Street Construction and OCTA Measure M2 Street Construction <br />funds used for the acquisition. Upon conclusion of the negotiations, staff will bring the transaction <br />details, including the revenues generated, for City Council authorization to recognize, receive, <br />and distribute the proceeds in accordance with Agreement C-8-1157 between the City and <br />Minh Thai <br />Executive Director <br />Planning and Building Agency <br />Exhibits: 1. Location Map <br />2. Detailed Map of Subject Properties <br />3. Resolution <br />75B-3 <br />