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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />JUNE 20, 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 k1ANAGER <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1� 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 agreement of Tenant <br />Interest in the property listed below and goodwill (if any) with the following property owner/ <br />tenant, subject to nonsubstantive changes approved by the City Manager and City Attorney: <br />No. Property Owner/ Tenant Property commonly <br />known as / location <br />Acquisition Amount <br />. , 1.1 """ "" Tenant <br />1 Ana Porcile 1111 N Bristol Street Suite G Interest $15,872 <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 fall 2017 and construction is <br />anticipated to begin in spring 2018. <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 is based on <br />the appraised value prepared by a State -licensed appraiser, and the offer has been accepted by <br />the tenant -seller. The tenant interest purchase price for the acquisition listed above is shown in <br />the corresponding agreement (Exhibit 2). <br />25J-1 <br />