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Real Property Purchase Agreement - Warner Avenue Improvements, Phase 2 November 5, 2019 Page 2 DISCUSSION Warner Avenue is classified as an East-West Major Arterial in the City's General Plan Circulation Element and the County of Orange Master Plan of Arterial Highways. Improving the one -mile segment of Warner Avenue from Main Street to Wright Street has been a long-term priority project that is being constructed in several phases. Improvements include widening from a four -lane roadway to a six -lane arterial, to address safety issues and provide adequate vehicular capacity; and installing parkway, raised median landscape, storm drain, protected bike lanes, sound walls, street lights, and traffic signals. The City is acquiring properties for the development of Phase 2 of the Warner Avenue Improvements project, bounded by Oak Street and Grand Avenue. Construction is anticipated to begin Winter 2020. The recommended property acquisitions are necessary to accommodate the street improvements for Phase 2 (Exhibit 1). The purchase offers were determined based on the appraised value prepared by a California State licensed appraiser and accepted by the property owner. The compensation amounts listed above are incorporated in the attached agreements (Exhibits 2 and 3). STRATEGIC PLAN ALIGNMENT Approval of this item supports the City's efforts to meet Goal #6 — Community Facilities & Infrastructure, Objective #1 (establish and maintain a Community Investment Plan for all City assets), Strategy G (develop and implement the City's Capital Improvement Program in coordination with the Community Investment and Deferred Maintenance Plans). Approval of this item also supports the City's efforts to meet Goal #3 — Economic Development, Objective #2 (create new opportunities for business/job growth and encourage private development through new General Plan and Zoning Ordinance policies), Strategy C (support business development and job growth along transit corridors through the completion of critical transit plans/projects). ENVIRONMENTAL IMPACT On September 1, 2015, City Council approved the Warner Avenue Final Environmental Impact Statement (SCH No. 2012101004). FISCAL IMPACT Warner Street Improvement project is primarily funded with Orange County Transportation Authority (OCTA) Measure M2 Comprehensive Transportation Funding Program, Arterial Capacity Enhancements (ACE) grant funds. Due to OCTA Board action in May 2019, all M2 payments to the City have been suspended until City regains M2 eligibility. City staff wishes to proceed with project delivery, as pending M2 funds will be reimbursed to City once compliance with the Maintenance of Effort (MOE) requirements are accepted by OCTA, with anticipated renewal in early 2020. The Appropriation Adjustment of $772,500 (Recommended Action No. 1) will provide sufficient funding 20B-2