20B - AA AND AGMT FOR WARNER AVE

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Real Property Purchase Agreement - Warner Avenue Improvements, Phase 2 June 2, 2020 Page 2 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 A grant award of $10,560,000 in Orange County Transportation Authority (OCTA) Measure M2 Arterial Capacity Enhancements (ACE) funding for Warner Avenue Improvement Project right-of- way activities was recognized in the Fiscal Year 2018-19 Capital Improvement Program. Due to the City's loss of eligibility to access M2 funds the budget appropriation for this project was not carried forward to the City's Fiscal Year 2019-20 budget. The City recently regained eligibility, therefore, M2 payments can resume and project delivery will proceed. The requested appropriation adjustment will reappropriate $376,500 of the ACE grant award to provide sufficient funding to complete this property purchase. Approval of the appropriation adjustment will recognize $376,500 in the Measure M-Street Construction Fund, Measure M2 Competitive revenue account (No. 03217002-52332) and appropriate the same amount into the Measure M-Street Construction Fund, Measure M2 Competitive Street, Land expenditure account (No. 03217663-66100). With $125,500 from the City of Tustin contribution already budgeted in the Warner Avenue Improvements Project (No. 18-6901), a total of $502,000 will then be available for property acquisition expenditures in FY 2019-20 as follows: Fiscal Accounting Unit Accounting Unit —Account Year Fund Description No. Description Amount Account No. 2019-20 03217663-66100 Measure M- Measure M2 Competitive Street $376,500 Street Construction — Land 2019-20 05917668-66100 Select Street Construction Warner Ave -Tustin CFD — Land $125,500 (City of Tustin Contribution) TOTAL PROPERTY PURCHASE AGREEMENT: $502,000 0&NZkyORliLell 101 Exhibits: 1. Location Map 2. Purchase Agreement — APN 016-211-25 20B-2