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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />APRIL 18, 2017 <br />TITLE: <br />APPROVE TENANT — INTEREST <br />PURCHASE AGREEMENT FOR BRISTOL <br />STREET IMPROVEMENTS PHASE 3A <br />(PROJECT NO. 136792) <br />(NON- GENERAL FUND) <br />(STRATEGIC PLAN NOS. 6, 1G; 3, 2C) <br />CI Y MANAGER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />rp1 =1001TACI <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 18' Reading <br />❑ Ordinance on 2otl 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 a Purchase Agreement of Tenant <br />Interest in the property listed below and goodwill (if any) with the following tenant, subject to <br />nonsubstantive changes approved by the City Manager and City Attorney: <br />No. Tenant <br />Property commonly <br />known as / location <br />Acquisition Amount <br />"'y ""' ' XWV" Tenant <br />1 Orfilda Magana 1111 North Bristol Street Suite A Interest $11,040 <br />(APN 405 - 274 -10) <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, raised landscape medians, and adding bike lanes. The City is acquiring <br />properties for the development of Phase 3A, bounded by Civic Center Drive and Washington <br />Avenue. Property acquisitions for this phase are expected to be completed by summer 2017, <br />and construction is anticipated to begin in fall 2017. <br />The acquisition of the tenant- interest (Exhibit 1) is necessary to accommodate the improvements <br />and widening for Phase 3A. The above listed tenant agreed to quitclaim all of their tenancy <br />interest, including loss of goodwill for the listed purchase price. The purchase price, based on <br />the appraised value prepared by a State - licensed appraiser, was accepted by the tenant - seller. <br />The purchase price for the acquisition listed above is shown in the corresponding agreement <br />(Exhibit 2). <br />25K -1 <br />