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<br />Purchase Agreements <br />August 7, 2006 <br />Page 2 <br /> <br />DISCUSSION <br /> <br />On March 6, 2006 the City Council approved the cooperative agreement <br />between the City and the Orange County Transportation Authority to <br />fund Bristol Street improvements from McFadden Avenue and Pine Street <br />Improvements include widening of the street from four lanes to six, <br />construction of landscaping in the parkways and the median islands, <br />traffic improvements, drainage structures, sound walls, and other <br />amenities as outlines in the Specific Plan. In order to accommodate <br />the widening, the acquisition of entire properties, as listed above, <br />are required (Exhibit 1). The purchase amounts are the appraised <br />value prepared by an appraiser licensed in the State of California. <br /> <br />ENVIRONMENTAL IMPACT <br /> <br />In accordance with the California Environmental Quality Act, the <br />proposed project has been determined to be adequately evaluated in <br />the previously prepared Environmental Impact Report/Environmental <br />Impact Assessment EIR No. 89-01 approved by City Council in 1990. <br /> <br />FISCAL IMI?ACT <br /> <br />Funds are appropriated in the Select Street Construction Fund <br />(account no. 59-553-6611). <br /> <br />/ /J <br />/i(/1 )l}(~(~ <br /> <br />JClffies G.vRoss . <br />o/xecutive Director <br />~UbliC Works Agency <br /> <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br /> <br />':t~('\,--~r <br />Francisco <br />Executive <br />Finance & <br /> <br />,~\ .:\ . <br /> <br />Gutierrez <br />Director <br />Mgmt. Services <br /> <br />,4,-.0 <br /> <br />Agency <br /> <br />l <br /> <br />250-2 <br /> <br />. <br />