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Purchase Agreement for Future Flower St. Well <br />October 04 2022 <br />Page 2 <br />A purchase offer was made for the subject property based on the appraised value by a <br />state -licensed real estate appraiser, and the offer was accepted by the property owners. <br />The purchase price for the acquisition is $775,000, and is shown in the corresponding <br />Purchase and Sale Agreement (Exhibit 2). Closing costs and escrow fees are <br />approximately $25,000, and relocation expenses in an amount not to exceed $250,000 <br />have been added to the budget, bringing the total anticipated purchase expenditure to <br />$1,050,000. <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 under SA- <br />1 Hydrogenerator Upgrade Project (No. 21-6462) to new Flower St Water Well Project <br />(No. 23-6475) and are available for expenditure in the current Fiscal Year 2022-23 as <br />shown below: <br />Fiscal <br />Year <br />Accounting Unit <br />- Account # <br />Fund <br />Description <br />Accounting Unit, <br />Account Description <br />Amount <br />2022-23 <br />06617647-66100 <br />Acquisition & <br />Water Utility Capital <br />$800,000 <br />(23-6475) <br />Construction <br />Projects, Land <br />06617647-66301 <br />Acquisition & <br />Water Utility Capital <br />2022-23 <br />(23-6475) <br />Construction <br />Projects, Water Capital <br />$250,000 <br />Project <br />Total $1,050,000 <br />EXHIBIT(S) <br />1. Vicinity Map <br />2. Purchase and Sale Agreement <br />3. FY 2022-23 Capital Improvement Program Sheet <br />Submitted By: Nabil Saba, P.E., Executive Director — Public Works Agency <br />Approved By: Kristine Ridge, City Manager <br />