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' ► • 4 <br />Loll] •► <br />CITY COUNCIL MEETING DATE: <br />SEPTEMBER 6, 2016 <br />TITLE: <br />APPROVE PURCHASE AGREEMENT FOR <br />BRISTOL STREET IMPROVEMENTS, <br />PHASE 4 <br />(PROD. NO. 116741) (NONGENERAL FUND) <br />(STRATEGIC PLAN NOS. 6, 1G; 3,2C) <br />CITY MAN AR <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1S1 Reading <br />❑ Ordinance on 2ntl 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 Purchase Agreement; with <br />2115 Bristol Trust, Lan Le trustee for the property commonly known as 2115 -2123 South Bristol <br />Street (APN Nos. 015 - 194 -20, 015 - 194 -21, 015 - 194 -22), for full acquisition of said real property <br />and goodwill (if any), in the amount of $2,682,000, subject to nonsubstantive changes approved <br />by the City Manager and City Attorney. <br />DISCUSSION <br />Bristol Street is a north -south transportation corridor designated as a major arterial highway in the <br />City's Circulation Element of the General Plan. Improving the 3.9 -mile Bristol Street segment <br />from Warner Avenue to Memory Lane has been a long -term priority project that is being <br />constructed in several phases. Improvements include widening the street from two to three lanes <br />in each direction, raising landscape medians, and adding bike lanes. The City is acquiring <br />properties for the development of Phase 4, bounded by Warner Avenue and Saint Andrew Place. <br />Property acquisitions for this phase are expected to be completed by spring 2017, with <br />construction scheduled to begin in summer 2017. <br />Property acquisition is necessary to accommodate the improvements and widening for Phase 4 <br />(Exhibit 1). These three parcels have a common use and must be acquired together. A <br />purchase offer was based on appraised values prepared by a California State licensed appraiser <br />and was accepted by the property owner. The compensation amount is noted above and shown <br />in the attached agreement (Exhibit 2). <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #6 - Community Facilities & <br />Infrastructure, Objective #1 (establish and maintain a Community Investment Plan for all City <br />25D -1 <br />