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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />NOVEMBER 15, 2010 <br />TITLE: <br />SETTLEMENT AGREEMENTS FOR <br />BRISTOL STREET CORRIDOR (PROJECT <br />NO. 081700) <br />f, <br />f <br />CITY MANAGER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1s' 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 attached agreements, subject <br />to nonsubstantive changes approved by the City Manager and City Attorney: <br />• Winchell's Donut Houses Operating Company, L.P. for the purchase of 624 N. Bristol Street <br />in the amount of $915,000. <br />• Richard and Susan Riemer for the purchase of 602 N. Bristol Street in the amount of <br />$352,720. <br />• Santa Ana Florist (Charles and Vicki Kruger) for acquisition settlement for the business at <br />315 N. Bristol in the amount of $280,000. <br />• Richard R. Garibay for the purchase of 828 N. Bristol Street in the amount of $3,190,000. <br />• Garibay Tax Service for acquisition settlement for business at 828 N. Bristol in the amount of <br />$75,000. <br />• Clinica Medica San Miguel for acquisition settlement for business at 1302 W. Santa Ana <br />Blvd. in the amount of $300,000. <br />• Joaquin Torres for purchase of 622 N. Bristol in the amount of $275,000. <br />DISCUSSION <br />On March 6, 2006, the City Council approved the cooperative agreement between the City and the <br />Orange County Transportation Authority to fund Bristol Street improvements from Warner Avenue <br />to Seventeenth Street. The first phase of the project, between Pine Street and McFadden Avenue, <br />25K -1 <br />