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Agreement for the Purchase and Exchange of Real Property <br />June 21, 2022 <br />Page 3 <br />Approval of the Recommended Actions will advance the City's ARPA Spending Plan by <br />allowing the Parks, Recreation and Community Services department to develop a new <br />park at Flower and 101" Street and will additionally activate remnant land on Bristol <br />corridor to generate funds for completion of the project. <br />ENVIRONMENTAL IMPACT <br />There are no environmental impacts associated with this action. <br />FISCAL IMPACT <br />Approval of the Appropriation Adjustment will recognize the receipt of $ 4,127,878.80 into <br />the Select Street Construction Fund, Sale of Land revenue account (No. 05917002- <br />57071) and appropriate the same into the OCTA Bristol Street Corridor Improvements <br />Fund, Improvements Other Than Building expenditure account (No. 05917661-66220). <br />These funds will be available for expenditure on the Bristol Street Corridor Improvement <br />Projects. Receipt of Measure M Street Construction proceeds in the amount of <br />$1,772,121.20 will be disbursed to the Orange County Transportation Authority (OCTA). <br />The table below summarizes the sales price per each of the surplus Bristol Properties, <br />with distribution of the estimated Bristol Improvement Project revenue: <br />Parcel ID <br />Sale Price <br />Bristol Improvement Fund <br />C-2 <br />$2,549,800 <br />$2,549,800 <br />C-3 <br />$1,268,300 <br />$1,268,300 <br />C-8 <br />$1,211,500 <br />$1,211,500 <br />P-1 <br />$870,400 <br />$870,400 <br />Total land proceeds revenue <br />City Property Total <br />$5,900,000 <br />Bristol Improvement <br />05917661-66220 <br />4,127,878.80 <br />OCTA Refund <br />03201001-20215 <br />1,772,121.20 <br />The ARPA fund budget, 181, already includes the appropriation for the $1.1 million <br />expenditure to purchase the 3 parcels. <br />EXHIBIT(S) <br />1. Location Maps — APNs 405-272-21 & 24; 004-123-56 & 57; 008-091-01, 02, 13, <br />14; & 405-074-38 (City of Santa Ana Bristol Properties) <br />2. Location Maps — APNs 005-142-34, 48, 49 (Manh 10t"/Flower Properties) <br />3. Property Exchange Agreement <br />Submitted By: Nabil Saba, P.E., Executive Director — Public Works Agency <br />Approved By: Kristine Ridge, City Manager <br />