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<br />REQUEST FOR <br />COUNCIL ACTION <br /> <br /> <br />CITY COUNCIL MEETING DATE: <br /> <br />CLERK OF COUNCIL USE ONLY: <br /> <br />MAY 7, 2007 <br /> <br />TITLE: <br />PURCHASE AGREEMENTS FOR <br />BRISTOL STREET CORRIDOR (PROJECT <br />06-1500) <br /> <br />APPROVED <br /> <br />o As Recommended <br />o As Amended <br />o Ordinance on 1" Reading <br />o Ordinance on 2" Reading <br />o Implementing Resolution <br />o Set Public Hearing For <br /> <br />i <br />I <br /> <br /> <br />I,) RECOMMENDED ACTION <br /> <br />Direct the City Attorney to prepare and authorize the <br />and Clerk of the Council to execute agreements with: <br /> <br />aa:z <br /> <br />CITY MANAGER <br /> <br />CONTINUED TO <br /> <br /> <br />.--' <br /> <br />FILE NUMBER <br /> <br />Ci ty Manager <br /> <br />Luis Tamalatzi & Monica Cervantes for the purchase of the <br />residential property located at 1242 W. Highland in the amount <br />of $585,000; <br /> <br />Myrtis Maddox for the purchase of the residential property <br />located at 1301 Raymar in the amount of $680,000; <br /> <br />Raul and Rosa E. Cibrian for the purchase of the residential <br />property located at 717 S. Bristol in the amount of $690,000; <br /> <br />Vision 123 <br />commercial <br />$750,000. <br /> <br />Property Management <br />property at 1003 S. <br /> <br />for the <br />Bristol <br /> <br />purchase of <br />in the amount <br /> <br />the <br />of <br /> <br />DISCUSSION <br /> <br />On May 7, 2007 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 outlined in the Specific Plan. To accommodate the <br />widening, the acquisition of entire properties, as listed above, are <br />required (Exhibit 1). The purchase amounts are the appraised value <br />prepared by an appraiser licensed in the State of California. <br /> <br />258-1 <br />