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EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET 4 <br /> PROJECT TITLE: <br /> Authorize Mayor to sign Consent COUNCIL BILL# <br /> Property Exchange Agreement x Action Originating Department Engineering <br /> with Burlington Northern Santa First Reading Contact Person Dave Davis-- <br /> Fe <br /> avis-Fe Second Reading Phone Number 257-8913 <br /> Third Reading FOR AGENDA OF Nov 2, 2005 <br /> Public Hearing <br /> Initialed by: <br /> Department Head <br /> CAA <br /> Council President <br /> Location Preceding Action Attachments Department(s)Approval <br /> Riverfront Area Agreement Legal, Planning <br /> Amount Budgeted $6,000,000 <br /> Expenditure Required $6,000,000 Account Number(s): <br /> Budget Remaining $0 <br /> Additional Required $0 <br /> DETAILED SUMMARY STATEMENT: <br /> The City and BNSF have prepared an agreement for the removal and relocation of railroad tracks and the <br /> exchange of parcels of land located east of I — 5 in the proposed Riverfront Development Area between <br /> Pacific Ave. and the Lowell River Road. The exchange of lands allows BNSF to remove its existing tracks <br /> and reconstruct replacement tracks on the west side of the landfill property. Removing the existing tracks <br /> eliminates the need for a future roadway grade crossing or over crossing between the landfill site and <br /> Simpson site developments. Additionally, removing the existing tracks improves the quality of the <br /> environmentally sensitive areas and the Snohomish River that adjoins the existing track alignment. The City <br /> will acquire 28.88 acres of property and provide BNSF with 14.62 acres of property and easements. Once the <br /> tracks are removed (within 2 years) the property acquired from BNSF will be used to enhance the adjoining <br /> wetlands, improve habitat and fisheries, continuation of the Riverfront Trail system and construction of <br /> interpretive areas. BNSF is obtaining final authorization. Exchange of properties will occur on or before <br /> December 15, 2005. <br /> Funding: Federal $4.2 M <br /> State Legislative Funds $1.8 M <br /> Total $6 M <br /> RECOMMENDATION (Exact action requested of Council): Authorize the Mayor to sign Property <br /> Exchange Agreement with Burlington Northern Santa Fe. <br /> 12 <br />