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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />MAY 2, 2017 <br />TITLE: <br />PURCHASE AGREEMENT WITH WORLD <br />OIL MARKETING COMPANY FOR REAL <br />PROPERTY ACQUISITION FOR BRISTOL <br />STREET IMPROVEMENTS PHASE 4 <br />(PROJECT NO. 116741, <br />NON - GENERAL FUND) <br />(STRATEGIC PLAN NOS. 6, 1G; 3, 2C) <br />ITY1y1ANA ER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 18` Reading <br />❑ Ordinance on 2nd 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 for the <br />real property acquisition, temporary construction easement, and goodwill (if any) with the <br />property owner listed below, subject to nonsubstantive changes approved by the City Manager <br />and City Attorney: <br />No. Property Owner Property commonly Acquisition Amount <br />known as / location Type <br />1 World Oil Marketing 2040 South Bristol Street, Full $610,000 <br />Company (APN 408 - 336 -17) <br />Bristol Street is a north -south transportation facility which is designated as a major arterial <br />highway in the City's Circulation Element of the General Plan. Improving the 3.9 -mile Bristol <br />Street segment from Warner Avenue to Memory Lane has been a long -term priority project that is <br />being constructed in several phases. Improvements include widening the street from two to three <br />lanes in each direction, raised 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 summer 2017, and <br />construction is anticipated to begin in fall 2017. <br />The property acquisition is necessary to accommodate the improvements and widening for <br />Phase 4 (Exhibit 1). The purchase offer was determined based on appraised value prepared by <br />a California State licensed appraiser and was accepted by the property owner. The <br />compensation amount is listed above and shown in the attached agreement (Exhibit 2). <br />25H -1 <br />