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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />MARCH 21, 2011 <br />TITLE: <br />PURCHASE AGREEMENT <br />FOR BRISTOL STREET CORRIDOR <br />(PROJECT NO. 081700) <br />CITY MANAGER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 15t Reading <br />❑ Ordinance on 2nd Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Authorize the City Manager and Clerk of the Council to execute the attached purchase agreement <br />with Gretchen Investments LP, for the purchase of the property located at 515 North Bristol in the <br />amount of $250,000 subject to nonsubstantive changes approved by the City Manager and City <br />Attorney. <br />DISCUSSION <br />On March 6, 2006, the City Council approved the cooperative agreement between the City and the <br />Orange County Transportation Authority to fund Bristol Street improvements from Warner Avenue <br />to Seventeenth Street. The first phase of the project, between Pine Street and McFadden Avenue, <br />is under construction and is expected to be completed by April 2011. Public Works is acquiring <br />property for the second phase of the project, between Third Street and Civic Center Drive, as well <br />as the intersection of Bristol and Seventeenth Streets. <br />To accommodate the widening for the second phase, acquisition of the entire property located at <br />515 North Bristol is required (Exhibit 1). The compensation amount is the appraised value <br />prepared by an appraiser licensed by the State of California. <br />ENVIRONMENTAL IMPACT <br />In accordance with the California Environmental Quality Act, the proposed project has been <br />determined to be adequately evaluated in the previously prepared Environmental Impact <br />Report/Environmental Impact Assessment No. 89 -01 approved by City Council in 1990. <br />25D -1 <br />