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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />JUN$ 2, 2008 <br />TITLE: <br />ACQIIISITION 3ETTL~NT AC3R$EMBNT <br />FOR BRISTOL 3TRS$T LIQUOR AT 323 3. <br />BRISTOL STRBET (PROJBCT 06-1500) <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />^ As Recommended <br />^ As Amended <br />^ Ordinance on 1g` Reading <br />^ Ordinance on 2nd Reading <br />^ Implementing Resolution <br />^ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Authorize the City Manager and Clerk of the Council to execute the <br />attached agreement with Parks Family Liquor Inc., dba Bristol Liquor <br />& Market in the amount of $565,000, subject to non-substantive <br />changes approved by 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 to Pine Street. <br />The improvements include widening of the street from four lanes to <br />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 entire property at 323 S. Bristol <br />was acquired on September 19, 2006 (Exhibit 1). The City's <br />acquisition resulted in the displacement of Bristol Liquor & Market. <br />The California Relocation Assistance Law requires the City to pay <br />reasonable costs associated with the relocation of the displaced <br />business. The settlement agreement with the business owners will <br />authorize the purchase of the tenant's immovable fixtures and <br />equipment, loss of business goodwill and relocation benefits, <br />totaling $565,000. <br />25T-1 <br />