Laserfiche WebLink
Purchase Agreement for Vacant Land for Future Water Well Facility <br />January 16, 2018 <br />Page 2 <br />Property acquisitions are necessary to accommodate future water system groundwater wells. <br />Public Works Agency staff has identified ideal areas for future groundwater wells based on water <br />system hydraulic analyses. The ideal area for the City's next groundwater well is in the vicinity of <br />the existing elevated tank (water tower) near Interstate 5, and staff has identified a vacant lot <br />(Exhibit 1) that is suitable for this purpose. A purchase offer was made based on the appraised <br />value prepared by a State licensed appraiser (Exhibit 2), and the offer was accepted by the <br />property owner. The purchase price for the acquisition is $1,083,750, and is shown in the <br />corresponding agreement (Exhibit 3). <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #6 — Community Facilities & <br />Infrastructure, Objective #1 (establish and maintain a Community Investment Plan for all City <br />assets). <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action <br />FISCAL IMPACT <br />The appropriation adjustment will recognize and appropriate $1,083,750 of prior year fund <br />balance in the Water Utility revenue account and facilitate an interfund budgetary expenditure <br />transfer as follows: <br />Account Number <br />Description RevenueFExense <br />06017002-50001 <br />Water Utilit Prior Year Fund Balance $1,083,75006017019-68000-66 <br />Water Utilit Interfund Transfer 83,750 <br />06617002-59000-60 <br />Water Capital Projects Interiund Transfer $1,083,7506617647-66100 <br />Water Utilit Capital Projects Land 83,750 <br />Funds will be available for expenditure in Fiscal Year 2017-18. <br />Exdcutive Director <br />Public Works Agency <br />FM/NS/RR <br />APPROVED A$ TO FUNDS & ACCOUNTS: <br />L <br />Executive Dirbstbr �� <br />Finance & Management Services Agency <br />Exhibits: 1. Location Map <br />2. Appraisal <br />3. Agreement for APN 398-150-02 & 398-152-16 <br />20D-2 <br />