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1 RESOLUTION NO. ,,Q357 <br /> 2 <br /> A RESOLUTION setting forth the amount of compensation to be paid for <br /> 3 the vacation of Lake Street between Fleming Road and Evergreen <br /> Way. <br /> 4 <br /> 5 <br /> WHEREAS, on January 2, 1974, the Everett City Council passed Ordinance <br /> 6 <br /> No. 281-74 vacating that portion of Lake Street lying east of Fleming and west of <br /> 7 <br /> Evergreen Way in consideration of agreement by A. A. Wexler and Gilda J. Wexler, his <br /> 8 <br /> wife, to exhcange by deed an equivalent forty (40) foot right-of-way easement to the <br /> 9 <br /> City by January 1, 1984, for the establishment of a street in lieu of Lake Street; and <br /> 10 <br /> WHEREAS, on October 19, 1983, the Everett City Council passed Resolution <br /> 11 <br /> No. 2344 declining the exchange of property as compensation, and accepting monetary <br /> 12 <br /> compensation in an amount not to exceed one-half of the current appraised value of <br /> 13 <br /> Lake Street; and <br /> 14 WHEREAS, the City of Everett did retain the services of an independent fee <br /> 15 <br /> appraiser to determine the value of vacated Lake Street; and <br /> 16 <br /> WHEREAS, the initial appraisal indicated a value of $51,300; however, a review <br /> 17 of the appraisal indicates that an error was made and that the correct value of vacated <br /> 18 <br /> Lake Street is actually $57,400. The appraiser concurs in this corrected figure through <br /> 19 the letter marked "Exhibit A" which is attached hereto and incorporated herein by <br /> 20 reference; and <br /> 21 WHEREAS, on December 26, 1979, the Everett City Council passed Resolution <br /> 22 No. 1724 which established payment to the City of Everett for street vacations in the <br /> 23 amount of one-half the appraised value of the area vacated with certain exceptions <br /> 24 resulting in exchange of property to the City of Everett equal to or greater than the <br /> 25 area vacated; and <br /> 26 WHEREAS, the Everett City Council finds that the subject vacation does not fall <br /> 27 within any of the exceptions stated in Resolution No. 1724; and <br /> 28 WHEREAS, also on December 26, 1979, City Council passed Ordinance <br /> 29 No. 652-79 which provided in part that monies deemed from the sale of a street or alley <br /> 30 vacation, be deposited into the Real Property Acquisition Fund No. 145. <br /> 31 <br /> 32 <br />