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"Right of Way" poly to centerline without data loss?

Question asked by grparent on Sep 12, 2012
Latest reply on Sep 14, 2012 by grparent
Hello ESRI Forum users,
Is the following possible? Go from the top image to the bottom image without losing any polygon information? The data inside the right of way can be lost but the data inside the four squares inside the right of way must be maintained.
Thanks in advance for any input you may have.