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Public Hearing — Resolution to Authorize Negotiation for Sale of <br />City -owned Real Property at 827, 829, and 907 N. Bristol Street <br />November 7, 2017 <br />Page 2 <br />Staff recommends direct negotiation with In -N -Out Burgers to ensure that the current traffic issue is <br />mitigated, as well as business and resident complaints are addressed. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #6 — Community Facilities & Infrastructure, <br />Objective #1 (establish and maintain a Community Investment Plan for all City assets), Strategy G <br />(develop and implement the City's Capital Improvement Program in coordination with the Community <br />Investment and Deferred Maintenance Plans). <br />Approval of this item also supports the City's efforts to meet Goal #3 — Economic Development, Objective <br />#2 (create new opportunities for business/job growth and encourage private development through new <br />General Plan and Zoning Ordinance policies), Strategy C (support business development and job growth <br />along transit corridors through the completion of critical transit plans/projects). <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. <br />FISCAL IMPACT <br />There is no fiscal impact to the general fund. Revenue from the sale of City -owned real property must be <br />recognized as such by the Select Street Construction Fund and the Measure M2 Street Construction Fund <br />used for its acquisition. Upon completion of negotiations, staff will bring the transaction, including the <br />revenues generated, for City Council authorization to recognize and receive the proceeds. <br />-:! 1 ;ZY2 <br />Fred Mousavipou <br />Executive Director <br />Public Works Agency <br />FM/EWG/JG/KN/ML <br />Exhibits: 1. Location Map <br />2. Resolution <br />Candida Neal <br />Acting Executive Director <br />Planning & Building Agency <br />751-2 <br />