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Purchase and Sale Agreement of Portions of City -owned <br />Real Property at 1301 and 1305 W. 12th Street <br />December 4, 2018 <br />Page 3 <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. <br />FISCAL IMPACT <br />The proceeds of $233,400 from this sale of land are restricted and will be used to reimburse <br />monies to the granting agency, per agreed upon terms, and to fund improvements within the <br />Bristol Corridor Project. Approval of the recommended Appropriation Adjustment will recognize <br />the receipt of $159,879 into the Select Street Construction Fund revenue account (No. <br />05917002-57071) and appropriate the same into the OCTA Bristol Street Corridor Improvements <br />Fund expenditure account (No. 05917661-66100). These funds will be available for expenditure <br />on the Bristol Street Improvement Project. The remaining proceeds of $73,521 will be received in <br />the Measure M Street Construction Fund (Account No. 03201001-20215) for disbursement to <br />OCTA. /1 <br />9 <br />Fuad S. Speiss, PE, PLS <br />Executive Pi rector <br />Public Wo ks Agency <br />FM/EWG/JG/ST <br />Exhibits: 1. Location Map <br />2. Agreement <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />Kath ryn Do s, CPA <br />Executive Director <br />Finance and Management Services Agency <br />20D-3 <br />