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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />AUGUST 5, 2014 <br />TITLE: <br />PURCHASE AND SETTLEMENT <br />AGREEMENTS WITH TUAN ANH PHAN <br />AND HOANG NGO PHAN FOR THE <br />BRISTOL STREET IMPROVEMENTS <br />PROJECT (PROJECT NO. 116740 <br />NO�NGENE'RAL/FUN``D) <br />CITY MANAOiER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1a' Reading <br />❑ Ordinance on 21d 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 following agreements with <br />Tuan Anh Phan and Hoang Ngo Phan, husband and wife, as joint tenants of the property located <br />at 1405 North Bristol Street (APN 405 - 272 -17), subject to nonsubstantive changes approved by <br />the City Manager and City Attorney: <br />1) A purchase agreement in the amount of $550,000 for the full purchase price for said real <br />property. <br />2) An all- inclusive settlement agreement in the amount of $200,000 as total compensation for <br />relocation assistance, and any and all related expenses and claims for relocation benefits, <br />moving, interest of any kind in real estate and leasehold, and loss of goodwill (if any). <br />Bristol Street is a major north -south transportation facility, which is designated as a major arterial <br />highway in the City's Circulation Element of the General Plan. The improvement of the 3.9 -mile <br />Bristol Street segment from Warner Avenue to Memory Lane has been a long -term priority project <br />that is being constructed in several phases. Improvements include the widening of the street from <br />two to three lanes in each direction, raised landscape medians, and bike lanes. The Public Works <br />Agency is acquiring property for development of Phase 1116, in the area bounded by Washington <br />Avenue and Seventeenth Street, and expects to complete the acquisition process by December <br />2014. Construction is anticipated to begin during the middle of 2015. <br />To accommodate the improvements for Phase IIIB, full acquisition of the mixed -use property <br />located at 1405 North Bristol Street is required (Exhibit 1). An offer based on the appraised value <br />prepared by an appraiser licensed by the State of California was made on June 16, 2014. The <br />property owner accepted the City's offer of $550,000. In accordance with Title 25 of California <br />25J -1 <br />