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4 <br /> ~r~V <br /> REQUEST FOR <br /> <br /> COUNCIL ACTION <br /> CITY COUNCIL MEETING DATE: CLERK OF COUNCIL USE ONLY: <br /> JUNE 21, 2010 <br /> TITLE: APPROVED <br /> ACQUISITION SETTLEMENT ? As Recommended <br /> AGREEMENT FOR BRISTOL STREET ? As Amended <br /> ? Ordinance on 151 Reading <br /> CORRIDOR (PROJECT NO. 08-1700) ? Ordinance on 2"d Reading <br /> ? Implementing Resolution <br /> ? Set Public Hearing For <br /> f CONTINUED TO <br /> n <br /> ?''~-~`~'~/~,,~,iCry~----- FILE N U M B E R <br /> CITY MANAGER <br /> RECOMMENDED ACTION <br /> Authorize the City Manager and Clerk of the Council to execute the attached acquisition <br /> settlement agreement with ACME Bail Bonds in the amount of $45,000 subject to nonsubstantive <br /> changes approved by the City Manager and City Attorney. <br /> DISCUSSION <br /> On March 6, 2006, the City Council approved the cooperative agreement between the City and <br /> the Orange County Transportation Authority to fund Bristol Street improvements from Warner <br /> Avenue to Seventeenth Street. The first phase of the project, between Pine Street and McFadden <br /> Avenue, is under construction and is expected to be completed by September 2010. Public <br /> Works is acquiring property for the second phase of the project, between Third Street and Civic <br /> Center Drive, as well as the intersection of Bristol Street and Warner Avenue. <br /> On March 3, 2009, the City Council approved the purchase agreement with the property owner to <br /> acquire the entire property located at 712 N. Bristol (Exhibit 1). As part of acquisition process, <br /> the tenant, ACME Bail Bonds, is also entitled to benefits. Staff has been negotiating with ACME <br /> and has reached a comprehensive settlement agreement. The compensation amount is the <br /> appraised value prepared by an appraiser licensed by the State of California. <br /> 25J-1 <br /> <br />