Laserfiche WebLink
REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />AUGUST 18, 2008 <br />TITLE: <br />PURCHASE AGREEMENT FOR BRISTOL <br />STREET CORRIDOR (PROJECT 06- <br />1500) <br />CITY MANAGER <br />C <br />D ACTIO <br />~,ithorize the City Manager and Clerk <br />attached agreement with Deutsche Bank <br />of the property located at 1239 W. <br />$235,000, subject to non-substantiv <br />Manager and City Attorney. <br />DISCUSSION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />^ As Recommended <br />^ As Amended <br />^ Ordinance on 151 Reading <br />^ Ordinance on 2nd Reading <br />^ Implementing Resolution <br />^ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />of the Council to execute the <br />National Trust for the purchase <br />Raymar Street in the amount of <br />e changes approved by the City <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 />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. <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 $235,000 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. 89-01 approved by City Council in 1990. <br />250-1 <br />