HomeMy WebLinkAbout25C - 818 S BRISTOLREQUEST FOR
COUNCIL ACTION
CITY COUNCIL MEETING DATE:
OCTOBER 1, 2007
TITLE:
PURCHASE AGREEMENTS FOR
818 S. BRISTOL STREET
(PROJECT 06-1500)
/ CITY MANAGER
RECOMMENDED ACTION
CLERK OF COUNCIL USE ONLY:
APPROVED
^ As Recommended
^ As Amended
^ Ordinance on 15` Reading
^ Ordinance on 2"d Reading
^ Implementing Resolution
^ Set Public Hearing For_
CONTINUED TO
FILE NUMBER
Direct the City Attorney to prepare and authorize the City Manager
and Clerk of the Council to execute agreements with:
R. Barbara Farkas, Trustee of the Farkus Trust dated December
20, 1988 for the purchase of the residential property located
at 818 S. Bristol in the amount of $635,000.
DISCUSSION
On~May 7, 2007, the City Council approved the cooperative agreement
between the City and the Orange County Transportation Authority to
fund Bristol Street improvements between McFadden Avenue and Pine
Street. Improvements include widening of the street from four lanes
to six, landscaping in the parkways and the median islands, and other
amenities as outlined in the Specific Plan. To accommodate the
widening, the acquisition of entire properties, as listed above, are
required (Exhibit 1). The purchase amounts are the appraised value
prepared by an appraiser licensed in the State of California.
On March 19, 2007, the City Council authorized the City Manager and
Clerk of the Council to execute a purchase contract on the subject
real property for $620,000. Since then, unforeseen title and legal
issues have resulted in increased closing cost to complete the
transaction. The revised acquisition agreement, for $635,000, will
allow the City to complete the transaction necessary for the road
widening project.
25C-1
Purchase Agreements
October 1, 2007
Page 2
ENVIRONMENTAL IMPACT
In accordance with the California Environmental Quality Act, the
proposed project has been determined to be adequately evaluated in
the previously prepared Environmental Impact Report/Environmental
Impact Assessment EIR No. 89-O1 approved by City Council in 1990.
FISCAL IMPACT
Funds are appropriated in the Select Street Construction Fund
(account no. 59-553-6611).
APPROVED AS TO FUNDS AND ACCOUNTS:
Jam G. Ross ~ancisco Gutierrez n./~
Ex utive Director ~ Executive Director
P lic Works Agency Finance & Mgmt. Services Agency
25C-2