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05-10-2011 CC RPT 22
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8/6/2011 5:20:27 AM
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City Council
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City Council Reports
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05-10-2011 CC RA AGENDA
(Superseded by)
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\City Council Agendas\2010-2019\2011
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Streeter Avenue Grade Separation Project Purchase and Sale Agreements • Page 2 <br />area per the property appraisal <br />5289 Appleton Street. The Property, which is required for the Project, is located on the northwest <br />corner of Appleton Street and Streeter Avenue, and is improved with an owner - occupied 1,074 <br />square foot single - family residence with an attached two -car garage on an approximately 9,794 <br />square foot lot. The purchase price of $200,000 is consistent with the comparable sales and <br />listings in the area per the property appraisal. <br />The property owners will receive assistance in accordance with the City's Relocation Plan, which <br />was approved by the City Council on March 22, 2011, and funds have already been budgeted for <br />this purpose. <br />The Public Works Department concurs with the recommendations above. <br />FISCAL IMPACT <br />The cost to acquire the subject properties is $605,000, plus approximately $9,000 in related title, <br />escrow, and closing costs, for an approximate total of $614,000. Adequate funds are available in <br />the Streeter Avenue Grade Separation Project Account No. 9595828711- 44012574. <br />Submitted by: Tina English, Interim Development Director <br />Certified as to <br />availability of funds: Paul C. Sundeen, Assistant City Manager /CFO /Treasurer <br />Approved by: Deanna Lorson, Assistant City Manager <br />for Bradley J. Hudson, City Manager <br />Approved as to form: Gregory P. Priamos, City Attorney <br />Attachment(s): Exhibit "A" — Site Maps <br />Exhibit "B" — Purchase and Sale Agreements <br />G: \Real_Property \Documents \Ward 3 \11 -3- 222- CM- StreeterAvGradeSep 4- 26- 11- Schoonover.doc <br />22 -2 <br />
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