25G - AGMT - GRAND AVE WIDENING 1221 E FIRST ST

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REQUEST FOR COUNCIL ACTION CITY COUNCIL MEETING DATE: CLERK OF COUNCIL USE ONLY: JUNE 4, 2012 TITLE: APPROVED PURCHASE AGREEMENT ? As Recommended FOR GRAND AVENUE WIDENING ? As Amended ? Ordinance on 1St Reading (PROJECT NO. 081732 NON-GENERAL ? Ordinance on 2~d Reading FUND) ? Implementing Resolution ? Set Public Hearing For CONTINUED TO i FILE NUMBER CITY MANA R RECOMMENDED ACTION Authorize the City Manager and Clerk of the Council to execute the attached purchase agreement with the Neal Family Revocable Trust and the Bevington Family Trust for the purchase of the property located at 1221 East First Street (APN 398-454-12 & 398-454-13) in the amount of $3,174,000 subject to nonsubstantive changes approved by the City Manager and City Attorney. DISCUSSION Grand Avenue is a major north-south transportation facility, which is designated as a major arterial highway in the City's Circulation Element of the General Plan, and carries in excess of 35,000 vehicles per day. The widening of Grand Avenue between First and Seventeenth Streets has been a long-term priority project that will be constructed in several phases. Improvements include the widening of the street from two to three lanes in each direction, raised landscape medians, and curb, gutter, and sidewalk construction. The Public Works Agency is in the process of acquiring property for Phase I between First and Fourth Streets, and expects to complete the acquisition process by June 2013 and start construction in the summer of 2013. To accommodate the widening for Phase I, full acquisition of the property located at 1221 East First Street is required (Exhibit 1). An offer based on the appraised value prepared by an appraiser licensed by the State of California was made on February 15, 2012. The property owner accepted the City's offer of $3,174,000. 25G-1