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FULL PACKET_2008-04-07
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FULL PACKET_2008-04-07
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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />CLERK OF COUNCIL USE ONLY: <br />APRIL 7, 2008 <br />TITLE: <br />PURCHASE AGREEMENT FOR <br />BRISTOL STREET CORRIDOR (PROJECT <br />o6-i5oa~ <br />ITY MANAGER <br />APPROVED <br />^ As Recommended <br />^ As Amended <br />^ Ordinance on 151 Reading <br />^ Ordinance on 2"d Reading <br />^ Implementing Resolution <br />^ Set Public Hearing For_ <br />CONTINUED TO <br />FILE NUMBER <br />RECOMMENDED ACTION <br />Authorize the City Attorney and Clerk of the Council to execute the <br />attached agreement with Carrington Mortgage Services, LLC for the <br />purchase of the property located at 1251 W. Camile Street in the <br />amount of $260,000, subject to non-substantive changes approved by <br />the City Manager and City Attorney. <br />DISCUSSION <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 <br />Street. Improvements include widening of the street from four lanes <br />to six, construction of landscaping in the parkways and the median <br />islands, traffic improvements, drainage structures, sound walls, and <br />other amenities as outlined in the Specific Plan. <br />To accommodate the widening, the acquisition of the entire property <br />listed above is required (Exhibit 1). The property was acquired by <br />the bank through a foreclosure. The structure is vacant and the price <br />of $260,000 reflects a distressed sale. <br />ENVIRONMENTAL IMPACT <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-O1 approved by City Council in 1990. <br />25D-1 <br />
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