80A - JOINT - ACQUISITION 1126-1146 WASHINGTON

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Joint Public Hearing — Agreement and Escrow Instructions for Acquisition of Real Property at 1126 -1146 E. Washington Avenue July 5, 2016 Page 3 and monitoring to maintain ideal pressure throughout the system while delivering adequate supply. This location is currently vacant and bare, which is a great opportunity to establish a routine and persistent City presence with new facilities and other perimeter improvements (such as block walls and landscaping), that will improve its aesthetic appearance and physical security. There is also potential for mitigating landscape improvements both on- and off -site, such as dry creek beds, pedestrian walkways, and drought tolerant landscape to enhance the environmental aspects of the area. The property (APN 398 - 092 -14) was transferred to the Santa Ana Housing Authority, acting as the Housing Successor Agency, upon dissolution of the former Community Redevelopment Agency in 2012. Because the property is owned by the Housing Authority, it must be purchased at the appraised value with minimal transaction costs, unlike other privately owned parcels. The cash proceeds from the sale are to be used use solely for affordable housing development through a mutually beneficial transaction for ratepayers and residents alike. Approving this item will allow for the acquisition of this property by the City's Water Enterprise for use in constructing water wells and related infrastructure in support of experienced and planned growth in the Downtown and Station District areas (Exhibit 2). ENVIRONMENTAL COMPLIANCE There is no environmental impact associated with this action. STRATEGIC PLAN ALIGNMENT Approval of this item supports the City's efforts to meet Goal #6 - Community Facilities & Infrastructure, Objective #1 (establish and maintain a Community Investment Plan for all City assets), Strategy C (invest resources and technology to extend the service life of existing infrastructure to protect the City's investment and support a high quality of life standard); Strategy E (prepare a Community Investment Program as part of the citywide budget process that identifies new or expanded capital needs and their funding strategies); and Strategy G (develop and implement the City's Capital Improvement Program in coordination with the Community Investment and Deferred Maintenance Plans). FISCAL IMPACT The Appropriation Adjustment will recognize prior year fund balance of $3,490,000 into the Public Works Water Revenue Prior Year Carry Forward revenue account (Account No. 06017002- 50001) and appropriate the same amount into the Water Systems Maintenance expense account (Account No. 06017641- 66100). These funds will be used by the City's Water Enterprise to • I .