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Property Exchange Bristol Street Improvements Phase 4 <br />December 4, 2018 <br />Page 2 <br />consistent with each other. To settle the matter would also avoid litigation costs of around <br />$50,000 - $75,000. <br />This property exchange will ensure the relocated substation provides continued electrical grid <br />stability while also enhancing the aesthetic of the corridor by removing it from its current location <br />adjacent to the intersection of Washington and Bristol, to a location further down the block. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #6 — Community Facilities & <br />Infrastructure, Objective #1 (establish and maintain a Community Investment Plan for all City <br />assets), Strategy G (develop and implement the City's Capital Improvement Program in <br />coordination with the Community Investment and Deferred Maintenance Plans). <br />Approval of this item also supports the City's efforts to meet Goal #3 — Economic Development, <br />Objective #2 (create new opportunities for business/job growth and encourage private <br />development through new General Plan and Zoning Ordinance policies), Strategy C (support <br />business development and job growth along transit corridors through the completion of critical <br />transit plans/projects). <br />ENVIRONMENTAL IMPACT <br />In 1990, City Council approved the Bristol Street Final Environmental Impact <br />Statement/Environmental Impact Report (FEIS/EIR No. 89-01). Due to several minor design <br />modifications in Phase 4, which lies between Warner Avenue and St. Andrew Place, an <br />Addendum to the FEIS/EIR was prepared and adopted pursuant to the California Environmental <br />Quality Act by City Council on April 7, 2015. <br />FISCAL IMPACT <br />There is,0o fiscal impact associated with this action. <br />9 <br />Fuad Sweiss, PE, PLS <br />Executi Director <br />Public Viorks Agency <br />FM/EW G/JG/ST <br />Exhibits: 1. Location Map <br />2. Property Exchange Agreement <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />4 <br />Kathryn Downs, CPA <br />Executive Director <br />Finance and Management Services Agency <br />25A-2 <br />