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<br />Abandonment No. 03-05 <br />August 1, 2005 <br />Page 2 <br /> <br />The proposed resolution will abandon the City's street easement at this <br />location. In addition, execution of the agreement for the sale between <br />the City and the School District will allow conveyance of the City's <br />underlying fee interest in the portion of Broadway Place. <br /> <br />ENVIRONMENTAL IMPACT <br /> <br />In accordance with the California Environmental Quality Act, the proposed <br />project is exempt from further review. Categorical Exemption <br />Environmental Review No. 2003-260 will be filed with this report. <br /> <br />FISCAL IMPACT <br /> <br />The $1 land sale proceeds will be received into the General Fund for Sale <br />of Property Account (account no. 11-01-5721). <br /> <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br /> <br />~~-' UmIV1eUt~ <br />James G. Ross <br />Executive Director <br />Public Works Agency <br /> <br />""::\N'\.\{\.\' '-\ ~ 0 ~ ~ ~ <br />Francisco Gutierrez ~.( <br />Executive Director rv <br />Finance & Mgmt. Services Agenc~ <br /> <br />75A-2 <br />