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Real Property Purchase Agreement — Warner Avenue Improvements, Phase 2 <br />October 18, 2022 <br />Page 2 <br />Tustin agreed to partially fund the improvements on Warner Avenue between Main Street <br />and Grand Avenue. <br />The recommended property acquisition (Exhibit 1) is necessary to accommodate the <br />street improvements for Phase 2. The purchase offer was determined based on the <br />appraised value prepared by a California State licensed appraiser and accepted by the <br />property owner (Exhibits 2 and 3). <br />ENVIRONMENTAL IMPACT <br />On September 1, 2015, City Council approved the Warner Avenue Final Environmental <br />Impact Statement (SCH No. 2012101004). <br />FISCAL IMPACT <br />Funds in the amount of $1,535,000 are budgeted and available in the Warner Avenue <br />Improvements Project (No. 18-6901) for property acquisition expenditures in FY 2022-23 <br />as follows: <br />Fiscal <br />Accounting <br />Accounting Unit, <br />Year <br />Unit —Account <br />Fund Description <br />Account No. <br />Amount <br />No. <br />Description <br />2022-23 <br />03217663-66100 <br />Measure M- <br />Measure M2 Competitive <br />$1,151,250 <br />Street Construction <br />Street, Land <br />Select Street <br />Warner Ave -Tustin <br />2022-23 <br />05917668-66100 <br />Construction <br />Community Facilities <br />$383,750 <br />(City of Tustin <br />District, Land <br />Contribution) <br />TOTAL <br />$1,535,000 <br />EXHIBIT(S) <br />1. Location Map <br />2. Purchase Agreement — APN 016-104-28 <br />3. Purchase Agreement — APN 016-212-26 <br />Submitted By: Nabil Saba, P.E., Executive Director — Public Works Agency <br />Approved By: Kristine Ridge, City Manager <br />City Council 15 — 2 10/18/2022 <br />