25Q - ACQUISITION SETTLEMENT 1007-1011 S BRISTOL

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REQUEST FOR COUNCIL ACTION CITY COUNCIL MEETING DATE: CLERK OF COUNCIL USE ONLY: JUNE a, coos TITLE: ACQIII3ITION SETTLEMENT AGREBMSNT3 FOR BII3INE33S3 AT 1007-1011.3. BRISTOL STREET (PROJBCT 06-1500) APPROVED ^ As Recommended ^ As Amended ^ Ordinance on 1S` Reading ^ Ordinance on 2"d Reading ^ Implementing Resolution ^ Set Public Hearing For CONTINUED TO FILE NUMBER CITY RECOMMENDED ACTION Authorize the City Manager and Clerk of the Council to execute the attached acquisition settlement agreements, subject to non-substantive changes approved by the City Manager and City Attorney, with the following: • Martha's Market for $114,466 • Gilberto's Restaurant for $272,000 • Gamez Insurance and Income Tax for $96,696 • Infinity Cellular & Paging for $105,407 • Rocela`s Beauty Salon for $103,242 DI3CII3SION 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 from McFadden Avenue and Pine Street. Improvements include 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. To accommodate the widening, a portion of the property at 1007-1011 S. Bristol Street was acquired on December 3, 2007 (Exhibit 1). Included in the acquisition is the building which houses the above businesses. Public Works has negotiated a plan with the property owner and tenants to build a new replacement retail facility on the remainder of the parcel. This settlement agreement will allow the businesses to relocate to their new facility, and the City's costs will be reduced by approximately 30 25Q-1