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(1) The City shall not vacate a street, alley or public easement governed by this chapter if any portion of the subject property abuts a body of water unless:

(a) The vacation is sought to enable the City acquire the subject property for port purposes, beach or waterfront access purposes, boat moorage or launching sites, park, public view, recreation, or educational purposes, or other public uses;

(b) The City Council, by resolution, declares that the subject property is not presently being used as a street, alley, or public easement and that the subject property is not suitable for any of the following purposes: port, be ach or water access, boat moorage, launching sites, park, public view, recreation, or education; or

(c) The vacation is sought to enable the City to implement a plan, adopted by resolution or ordinance, that provides comparable or improved public access to the same shoreline area to which the subject property abuts, had the subject property included in the plan not been vacated.

(2) Before adopting a resolution vacating subject property under subsection (1)(b) of this section, the City shall:

(a) Compile an inventory of all rights-of-way within the City that abut the same body of water that is abutted by the subject property;

(b) Conduct a study to determine if the subject property is suitable for use by the City for any of the following purposes: port, boat moorage, launching sites, beach or water access, park, public view, recreation or education; and

(c) Make a finding that the subject property is not suitable for any of the purposes listed under subsection (2)(b) of this section, and that the vacation is in the public interest.

(3) No vacation under this section shall be effective until the fair market value has been paid for the subject property. Money received from the vacation may be used by the City only for acquiring additional beach or water access, acquiring additional public view sites to a body of water, or acquiring additional moorage or launching sites. (Ord. 06-12 § 1 (Exh. 1))