25M - PURCHASE AGMT BRISTOL ST. CORRIDOR

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REQUEST FOR COUNCIL ACTION CITY COUNCIL MEETING DATE: CLERK OF COUNCIL USE ONLY: AUGUST 21, 2006 TITLE: PURCHASE AGREEMENTS FOR BRISTOL STREET CORRIDOR (PROJECT 06-1500) APPROVED o As Recommended o As Amended o Ordinance on 1 st Reading o Ordinance on 2nd Reading o Implementing Resolution o Set Public Hearing For , ,/ Mar? CONTINUED TO d i / V RECOMMENDED ACTION FILE NUMBER Direct the City Attorney to prepare and authorize the City Manager and Clerk of the Council to execute agreements with: . Angel Hernandez and Herlinda Gramajo for the purchase of the single family residence located at 305 S. Bristol Street in the amount of $645,000; . J. Paul and Arlene Thomassen for the purchase of the single family residence located at 1255 Bishop Street in the amount of $565,000; . J. Paul and Arlene Thomassen for the purchase of the single family residence located at 1254 Camile Street in the amount of $565,000. DISCUSSION On March 6, 2006 the City Council approved the Cooperative Agreement between the City and the Orange County Transportation Authority to fund Bristol Street improvements between McFadden Avenue and Pine Street. Improvements include the widening of the street from four lanes to six, construction of landscaping in the parkways and the median islands, traffic improvements, drainage structures, sound walls, and other amenities, as outlined in the Specific Plan. In order to accommodate the widening, the acquisition of entire properties, as listed above, are required (Exhibit 1). The purchase amounts are the appraised value prepared by an appraiser licensed in the State of California. 25M-1