(A) Tracts E and F of Forest Hills Subdivision and the 1.3213 acres, more or less, of vacated right-of-way for Forest Hills Drive, being the northerly 34 feet of the original right-of-way from the west right-of-way line of Louisiana Boulevard westward to Tract F, are declared non-essential for Municipal purposes.
(B) The exchange, as proposed in the seven-page Agreement and Exchange of Real Estate attached to Resolution No. 175-1986, is approved allowing signature of a formal agreement, which:
(1) Conveys from the city to Presley Tracts E and F of Forest Hills Subdivision and the vacated portion of Forest Hills Drive. Presley Company of New Mexico's obligation under the city's Subdivision Ordinance to participate in the cost of improvements to San Antonio Avenue and the South Pino Arroyo, as it relates to Academy Acres Unit 16, is waived.
(2) Conveys from Presley to the city Tract “A” Academy Acres Unit 16, the South Pino Arroyo right-of-way, the San Antonio Avenue right-of-way, and the Louisiana Boulevard right-of-way.
(Res. 175-1986, approved 12-10-86)