BEACH DEED - GIFT TO THE CITY OF HERMOSA BEACH OF CERTAIN REAL PROPERTY INTERESTS BY LAACO, LTD.

Recommendation:

1. That the City Council accept the gift of certain real property interests in the City which shall be used exclusively for public purposes.
   
2. That the Mayor and City Clerk be authorized to execute the agreement on behalf of the City.

Background:

The City Council directed staff to research the beach deed and any restrictions concerning the ability of the City to construct a separate bike path west of strand wall. In the course of a title search conducted as part of this research, it was found that the Los Angeles Athletic Club had certain interests in the beach. Once this was known, staff met with representatives of the LAACO and, as a result, the principles in LAACO have agreed to make a gift of the interests in the beach to the City. The attached agreement provides for the gift of their interest in the property. The City also provides a general release as part of the agreement.

The City Attorney's office has worked on this agreement and, once it is executed, we will be able to proceed with getting a determination on whether or not a bike path can be built.

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