Item 20 - Purchase of Real Property for Water Resources Pressure Regulating Vault Relocation

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Purchase Agreement for Pressure Regulating Vault Relocation May 3, 2022 Page 2 location under an interstate highway overpass, the Water Resources Division recommends relocating the vault approximately 380 feet east of the existing location. The purchase of real property located at 315 E 17t" Street (APN 003-153-49) is needed in order to relocate and construct the new vault. The new location (Exhibit 1) will provide Water Resources with a safer and more operationally -efficient site out of the public right- of-way. The purchase price for this property is $550,000, plus standard fees and closing costs (Exhibit 2). Closing costs and escrow fees are approximated at $25,000. The approval of the amendment to the Fiscal Year 2021-22 Capital Improvement Program which will officially incorporate this project into the program (Exhibit 3). ENVIRONMENTAL IMPACT There is no environmental impact associated with the action. FISCAL IMPACT Approval of the requested appropriation adjustment will recognize sufficient funds from Water Fund, Public Works Water Revenue, Prior Year Carryforward revenue account (No. 06017002-50001) and appropriate the same amount to the Acquisition & Construction, Water Utility Capital Projects, Land expenditure account (No. 06617647- 66100) to complete the funding for the purchase of the property in the amount of $575,000. The following table summarizes the funds budgeted and available for expenditure. Fiscal Accounting Unit Fund Accounting Unit, Amount Year - Account # Description Account Description 2021-22 06617647-66100 Acquisition & Water Utility Capital $575,000 (22-6474) Construction Projects, Land EXHIBIT(S) 1. Location Map 2. Purchase and Sale Agreement 3. FY 2021-22 Capital Improvement Program Sheet Submitted By: Nabil Saba, P.E., Executive Director — Public Works Agency Approved By: Kristine Ridge, City Manager