AFSG and City Real Property Exchange Sample Clauses

AFSG and City Real Property Exchange. AFSG proposed a real Property exchange with City in order to provide a more rational and efficient use of land within City and its UGB, to preserve the Ashland Creek riparian area and open it to public use, and to provide safe, efficient, and fully improved public access to City’s Dog Park and the Bear Creek Greenway. The completed exchange results in AFSG owning the property represented and shown in Exhibit A, and the City will own a tract identified as Long-Term Acquisition Area “10" on City’s Parks, Trails and Open Space Master Plan Map. AFSG proposes a real property exchange of IN sum, approximately 2.78 acres of riparian area and field (“Xxxxxxxx Property”) as a “quid pro quo” exchange for approximately 1.54 acres of City land, consisting primarily of City’s Dog Park access separating the East and West parcels owned by AFSG. See June 8, 2007 Revised Outline Plan Narrative Sub-Exhibit N-1(Map) in the record. The mechanics of the exchange are set forth in Exhibit G to this Agreement, incorporated herein and made a part hereof by this reference. The findings necessary to approve the exchange under ORS Chapter 271, are attached as Attachment 3 to the Ordinance Declaring the approval of this Development Agreement and are incorporated herein by this reference. For tax purposes, -one hundred and fifty thousand dollars, $150,000.00 shall be the agreed upon value of the gift or donation by AFSG (i.e. the acknowledged difference between the value of the Xxxxxxxx Property and the Value of the City Property exchanged.).
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Related to AFSG and City Real Property Exchange

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