Common use of Park Land Dedication Clause in Contracts

Park Land Dedication. Pursuant to RCW 53.20, the Port has completed the notifications and hearing required to amend applicable Comprehensive Scheme of Harbor Improvements and the surplus procedure to allow the Port to dedicate the necessary Port Properties to the City for Parks as outlined in Exhibit I “Park Land Dedications.” A portion of the Breakwater Trail crosses over Port managed state owned aquatic lands. This portion of the trail will be transferred to the City subject to approval of the DNR and/or consistent with the Port Management Agreement. The Port and the City have each independently analyzed the property transfers occurring pursuant to this Section 8 of this Agreement and agree that the Port's dedication of property to the City and the Park Impact Fee Credit received by the Port for such dedications as outlined below is an equitable exchange and both parties have determined that each entity is receiving true and full value as that term is defined in RCW 43.09.210, relevant case law and attorney general opinions.