BOARD AGENDA MEMORANDUM
Government Code ? 84308 Applies: Yes ? No ?
(If "YES" Complete Attachment A - Gov. Code ? 84308)
SUBJECT:
Title
Adopt a Resolution Authorizing Exchange of Real Property Rights with Apple Inc. at APN 316-06-064, Real Estate File Nos. 2010-209.1 and 2010-226 (Cupertino, District 5).
End
RECOMMENDATION:
Recommendation
Adopt the Resolution AUTHORIZING EXCHANGE OF REAL PROPERTY RIGHTS WITH APPLE INC., adjacent to Calabazas Creek, APN 316-06-064, Real Estate File Nos. 2010-209.1 and 2010-226, which does the following:
A. Authorize the Chief Executive Officer to accept the Easement Deed from Apple Inc., Valley Water Real Estate File No. 2010-226; and
B. Authorize the Chief Executive Officer to execute the Quitclaim Deed to Apple Inc., Valley Water Real Estate File No. 2010-209.1
Body
SUMMARY:
Apple Inc. is the owner of real property located at One Apple Park Way, APN 316-06-064 in the City of Cupertino, adjacent to Calabazas Creek (Attachment 1). Valley Water currently possesses an ingress/egress easement to access Calabazas Creek on, upon, over, and across APN 316-06-064. The existing Valley Water easement includes language that Valley Water agrees to accept a substitute but equivalent access, if necessary, to accommodate additional development of APN 316-06-064 by Grantor.
Redevelopment of APN 316-06-064 by Apple Inc. requires the existing Valley Water easement to be relocated. Apple Inc. has requested Valley Water accept a substitute ingress/egress easement (Attachment 2) and quit claim the existing ingress/egress easement (Attachment 3) per the terms of the existing Valley Water easement deed. The proposed substitute easement provides functionally equivalent access to Calabazas Creek in approximately the same location as the existing easement.
Section 31 of the District Act states, in part, "The board may by a majority vote exchange real property of equal value with any person, firm, or corporation for the purpose of rem...
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