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Release Remnant Easement at 918 North Bristol Street <br />May 16, 2017 <br />Page 2 <br />Termination of Easement Agreement (Exhibit <br />ownership in accordance with Section 2 -706.1 <br />a property interest to an adjoining property <br />competitive bidding. <br />STRATEGIC PLAN ALIGNMENT <br />2) is the legal mechanism to release the City's <br />of the Municipal Code, which provides for a sale of <br />owner without the need for public auction or <br />Approval of this item supports the City's efforts to meet Goal #6 — Community Facilities & <br />Infrastructure, Objective #1 (establish and maintain a Community Investment Plan for all City <br />assets), Strategy G (develop and implement the City's Capital Improvement Program in <br />coordination with the Community Investment and Deferred Maintenance Plans). <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. <br />FISCAL IMPACT <br />Upon execution of the termination of easement agreement, an Appropriation Adjustment will be <br />processed recognizing $6,000 received from the sale into the Select Street Construction Fund <br />revenue account (No. 05917002 - 57071) and appropriating the same amount into the Select <br />Street Construction Fund expenditure account (No. 05917661- 66100) for future Bristol Street <br />Project 11 -6741 expenditures. <br />Ved us avipour <br />Executive Director <br />Public Works Agency <br />Exhibits: 1. Location Map <br />2. Termination of Easement Agreement <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />Francisco Gutierrez <br />Executive Director <br />Finance & Management Services Agency <br />20A -2 <br />