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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />MAY 16, 2017 <br />TITLE: <br />APPROVE TENANT - INTEREST PURCHASE <br />AGREEMENTS FOR BRISTOL STREET <br />IMPROVEMENTS, PHASE 3A <br />(PROJ. NO. 136792 NONGENERAL FUND) <br />(STRATEGIC PLAN NOS. 6, 1G; 3,2C) <br />&nLMANAGtR <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1s` 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 purchase agreements of Tenant <br />Interest in the properties listed below and goodwill (if any) with the following property owners, <br />subject to nonsubstantive changes approved by the City Manager and City Attorney: <br />No. Tenant <br />Property commonly known as / <br />Acquisition Amount <br />location <br />Type <br />Advantage Auto Insurance Brokerage <br />Tenant <br />1 Khaled Jawhary <br />1111 North Bristol Street Suite D <br />Interest $9'628 <br />(APN 405 - 274 -10) <br />C.R. Manchandia <br />Family Dental <br />Tenant <br />2 D.D.S. <br />1111 North Bristol Street Suite D <br />$76,820 <br />Interest <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 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 summer 2017, and construction is <br />anticipated to begin in fall 2017. <br />The acquisitions of the tenant - interest (Exhibit 1) are necessary to accommodate the <br />improvements and widening for Phase 3A. The above listed tenants agreed to quitclaim all of <br />their tenancy interest, including loss of goodwill for the listed purchase prices. Purchase prices <br />were made based on the appraised values prepared by a State - licensed appraiser, and the offers <br />251 -1 <br />