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HomeMy WebLinkAbout8380 - Lease of Two West Newport Parcelsi RESOLUTION NO. 8380 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A LEASE AGREEMENT BETWEEN THE CITY OF NEWPORT BEACH AND THE STATE OF CALIFORNIA, DEPART- MENT OF TRANSPORTATION, FOR TWO PARCELS LOCATED IN WEST NEWPORT, FORMERLY OWNED BY THE PACIFIC ELECTRIC RAILROAD WHEREAS, by Resolution No. 8346, the City Staff was authorized in conjunction with the State Department of Transportation to prepare the necessary documents for the lease of Parcel Nos. A8188 and B7069, formerly known as the Pacific Electric right -of -way; and WHEREAS, the Staff and the State have concluded negotia- tions and have drafted a Lease Agreement for the subject property, which is to be used for park, recreation, and related purposes; and WHEREAS, the City Council has reviewed the terms and condi- tions of said Lease Agreement and have found them to be fair and equitable; NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Newport Beach hereby authorizes the Mayor and City Clerk to execute a Lease Agreement between the City of Newport Beach and the State of California, Department of Transportation, for Parcel Nos. A8188 and B7069 located in West Newport, formerly owned by the Pacific Electric Railroad. ATTEST: ADOPTED this 11th day of November C( City Clerk U C IED AS THE RIG L _ a CITY CLERIC OF THE CITY OF NEWP . T BEACH NOV 19 1974 DATE, -- ) ME 1974. DDO:kb 11 -5 -74