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Acquisition of Easements 4 Jctober 28, 1996 <br />Fiscal Impact <br />The Marina Boulevard Auto Mall Project Disposition and Development Agreement <br />(DDA) approved by the City Council and Redevelopment Agency on October 7, provides <br />that the Developer and the Agency will split the cost of the acquisition of the easements <br />and that the Agency will provide a loan to the Developer to fund its share of the cost of <br />the acquisition. The loan will be repaid to the Agency in five months, on March 31, <br />1997. <br />CONCLUSION <br />On October 7, the City Council and Redevelopment Agency directed staff to prepare Resolutions <br />of Necessity for acquisition of the easements at 1152 Marina Boulevard and 2000 Wayne <br />Avenue. Approval of the Resolutions of Necessity allows staff to continue to negotiate with the <br />property owners, but to acquire the required easements through eminent domain if necessary. <br />GADEBBMEASEMENr.noc <br />`1 � <br />