Laserfiche WebLink
REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />JUNE 17, 2014 <br />TITLE: <br />PURCHASE AGREEMENT WITH BYUNG <br />TAEK MIN AND ANNA JAE MIN FOR <br />BRISTOL STREET IMPROVEMENTS AND <br />WIDENING (PROJECT NO. 116740 <br />NONGENERALFUND) <br />_ <br />CITY MANA R <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1" 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 a purchase agreement with Byung <br />Taek Min and Anna Jae Min, husband and wife, as joint tenants of the property located at 1311 <br />North Bristol Street, in the amount of $390,000 for the full purchase price of the real property and <br />goodwill (if any), subject to nonsubstantive changes, approved by the City Manager and City <br />Attorney. <br />This action will allow the City to complete the right -of -way acquisition phase in preparation for the <br />final design and subsequent project construction. Bristol Street is a major north -south <br />transportation facility, which is designated as a major arterial highway in the City's Circulation <br />Element of the General Plan. Widening of the 3.9 -mile Bristol Street segment from Warner Avenue <br />to Memory Lane has been a long -term priority project that is being constructed in several phases. <br />Improvements include widening the street from two to three lanes in each direction, raised <br />landscape medians, and bike lanes. The Public Works Agency is acquiring property for <br />development of Phase IIIB, bounded by Washington Avenue and Seventeenth Street, and expects <br />to complete the acquisition process by December 2014. Construction is anticipated to begin by <br />early 2015. <br />To accommodate the improvements and widening for Phase IIIB, acquisition of the entire property <br />located at 1311 North Bristol Street is recommended (Exhibit 1). An offer based on the appraised <br />value prepared by a licensed appraiser in the State of California was made and accepted by the <br />property owner. The compensation amount is $390,000 (Exhibit 2). <br />25J -1 <br />