25F - AGMT - PURCHASE AGMT - CAZAREZ- BRISTOL ST WIDENING

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RECOMMENDED ACTION Authorize the City Manager and Clerk of the Council to execute a purchase agreement with Martin P. Cazarez and Sylvia Y. Cazarez, husband and wife, as joint tenants of the property located at 1315 North Bristol Street (APN 405- 272 -13), in the amount of $390,000 for the full purchase price for said real property and goodwill (if any), subject to nonsubstantive changes approved by the City Manager and City Attorney. DISCUSSION This action will allow the City to complete the right -of -way acquisition phase in preparation for the final design and subsequent project construction. Bristol Street 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. The widening of the 3.9 -mile Bristol Street segment from Warner Avenue to Memory Lane has been a long -term priority project that is being constructed in several phases. Improvements include the widening of the street from two to three lanes in each direction, raised landscape medians, and bike lanes. The Public Works Agency is acquiring property for development of Phase IIIB, bounded by Washington Avenue and Seventeenth Street, and expects to complete the acquisition process by December 2014. Construction is anticipated to begin in early 2015. To accommodate the widening for Phase IIIB, acquisition of the entire property located at 1315 North Bristol Street is required (Exhibit 1). An offer based on the appraised value prepared by a licensed appraiser in the State of California was made and accepted by the property owner. The compensation amount is $390,000 (Exhibit 2). 25F -1 REQUEST FOR . COUNCIL ACTION -, CITY COUNCIL MEETING DATE: CLERK OF COUNCIL USE ONLY: JULY 15, 2014 TITLE: APPROVED PURCHASE AGREEMENT WITH MARTIN ❑ As Recommended P. CAZAREZ AND SYLVIA Y. CAZAREZ ❑ As Amended El Ordinance on Reading FOR BRISTOL STREET WIDENING I Ordinance on 2 ' Reading El Ordinance (PROJECT NO. 116740 NONGENERAL ❑ Implementing Resolution FUND) ❑ Set Public Hearing For CONTINUED TO FILE NUMBER CITY MANAGER RECOMMENDED ACTION Authorize the City Manager and Clerk of the Council to execute a purchase agreement with Martin P. Cazarez and Sylvia Y. Cazarez, husband and wife, as joint tenants of the property located at 1315 North Bristol Street (APN 405- 272 -13), in the amount of $390,000 for the full purchase price for said real property and goodwill (if any), subject to nonsubstantive changes approved by the City Manager and City Attorney. DISCUSSION This action will allow the City to complete the right -of -way acquisition phase in preparation for the final design and subsequent project construction. Bristol Street 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. The widening of the 3.9 -mile Bristol Street segment from Warner Avenue to Memory Lane has been a long -term priority project that is being constructed in several phases. Improvements include the widening of the street from two to three lanes in each direction, raised landscape medians, and bike lanes. The Public Works Agency is acquiring property for development of Phase IIIB, bounded by Washington Avenue and Seventeenth Street, and expects to complete the acquisition process by December 2014. Construction is anticipated to begin in early 2015. To accommodate the widening for Phase IIIB, acquisition of the entire property located at 1315 North Bristol Street is required (Exhibit 1). An offer based on the appraised value prepared by a licensed appraiser in the State of California was made and accepted by the property owner. The compensation amount is $390,000 (Exhibit 2). 25F -1