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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />JANUARY 17, 2017 <br />TITLE: <br />APPROVE TENANT- INTEREST <br />PURCHASE AGREEMENT FOR BRISTOL <br />STREET IMPROVEMENTS, PHASE 3A <br />(PROJ. NO. 136792 NONGENERAL FUND) <br />(STRATEGIC PLAN NOS. 6, 1G; 3,2C) <br />CITY I AGER <br />CLERK OF COUNCIL USE ONLY: <br />r•.• _r <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1'1 Reading <br />❑ Ordinance on 2°d Reading <br />❑ Implementing Resolution <br />❑ Set Publlo Hearing For -_ <br />CONTINUED TO <br />FILE NUMBER <br />Authorize the City Manager and Clerk of the Council to execute purchase agreement of Tenant <br />Interest in the property listed below and goodwill (if any) with the following property owner, <br />subject to nonsubstantive changes approved by the City Manager and City Attorney: <br />No. Property Owner Property commonly Amount <br />known as / location <br />Taqueria De Anda/ <br />1 George De Anda 1221 North Bristol Street and $220,465 <br />1240 West Washington Avenue <br />(APN Nos. 405 - 274 -12. -13) <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 that is being constructed in <br />several phases. Improvements include widening the street from two to three lanes in each <br />direction, raised landscape medians, and bike lanes. The City is acquiring properties for the <br />development of Phase 3A bounded by Civic Center Drive and Washington Avenue. Property <br />acquisitions for this phase are expected to be completed by spring 2017 and construction is <br />anticipated to begin in summer 2017. <br />The acquisition of the tenant - interest is necessary to accommodate the improvements and <br />widening for Phase 3A. The above listed tenant agreed to quitclaim all of their tenancy interest <br />including loss of goodwill for the listed purchase price. The purchase price was made based on <br />the appraised value prepared by a State - licensed appraiser, and the offer was accepted by the <br />respective tenant - seller. The purchase price for the acquisition listed above is shown in the <br />corresponding agreement (Exhibit 2). <br />25F -1 <br />