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Purchase Agreement for Elevated Tank <br />November 15, 2022 <br />Page 2 <br />On July 12, 2022, the Santa Ana Unified School District Board of Education approved <br />the City's offer to purchase the property for $781,000. Closing costs and escrow fees <br />are anticipated to cost approximately $79,000, bringing the total estimated purchase <br />expenditure to a not -to -exceed total of $860,000. Staff recommends approving the <br />purchase and sale agreement to ensure that these crucial water system assets are <br />housed on City -owned property. <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with the action. <br />FISCAL IMPACT <br />Funds for this action have been transferred from previously appropriated funds for the <br />Fisher Park Neighborhood Water Main Improvements (Project No. 19-6429) to the <br />Santa Ana Water Resources Elevated Tank Site Acquisition Project (No. 23-6478) and <br />are available for expenditure in the current Fiscal Year 2022-23 as shown below: <br />Fiscal <br />Accounting Unit <br />Fund <br />Accounting Unit, <br />Amount <br />Year <br />- Account # <br />Description <br />Account Description <br />2022-23 <br />06617647-66100 <br />Acquisition & <br />Water Utility Capital <br />$860,000 <br />(23-6478) <br />Construction <br />Projects, Land <br />EXHIBIT(S) <br />1. Purchase and Sale Agreement <br />Submitted By: Nabil Saba, P.E., Executive Director — Public Works Agency <br />Approved By: Kristine Ridge, City Manager <br />