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<br />REQUEST FOR <br />COUNCIL ACTION <br /> <br /> <br />CITY COUNCIL MEETING DATE: <br />DECEMBER 3, 2007 <br /> <br />CLERK OF COUNCIL USE ONLY: <br /> <br />TITLE: <br />PURCHASE AGREBMBNT FOR <br />PORTION OF 1007 AND 1011 S. <br />BRISTOL STREET (PROJECT 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 /> <br />CONTINUED TO <br /> <br />FILE NUMBER <br /> <br />RECOMMENDED ACTION <br /> <br />Direct the City Attorney to prepare and authorize the City Manager <br />and Clerk of the Council to execute an agreement with Aurora Angel <br />for the purchase of a portion of the commercial property located at <br />1007 and 1011 S. Bristol in the amount of $937,000. <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 <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 /> <br />To accommodate the widening, the acquisition of a portion of the <br />above property is required (Exhibit 1). The purchase amount is the <br />appraised value prepared by an appraiser licensed in the State of <br />California. <br /> <br />25Z-1 <br />