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LN A T E R E N E R[ <br />RIVERSIDE PUBLIC UTILITIES <br />• W& Board Memorandum <br />P U B L I C LI T I L I TI F S <br />BOARD OF PUBLIC UTILITIES DATE: JANUARY 9, 2017 <br />ITEM NO: 6 <br />SUBJECT: AGREEMENT FOR CONVEYANCE OF EASEMENT WITH BANK OF AMERICA <br />NATIONAL TRUST AND SAVINGS ASSOCIATION LOCATED AT 10297 MAGNOLIA <br />AVENUE, RIVERSIDE, CALIFORNIA, ASSESSOR'S PARCEL NUMBER 145-220-032 <br />FOR THE RIVERSIDE TRANSMISSION RELIABILITY PROJECT — WORK ORDER <br />642975 FOR $81,100 <br />ISSUES: <br />Recommend that the City Council approve the Agreement for Conveyance of Easement with Bank of <br />America National Trust and Savings Association; and that the Board of Public Utilities approve the not to <br />exceed expenditure of $81,100 for the acquisition of the subject easement located at 10297 Magnolia <br />Avenue, Riverside, California, Assessor's Parcel Number 145-220-032. <br />RECOMMENDATIONS: <br />That the Board of Public Utilities: <br />Recommend that the City Council approve the Agreement for Conveyance of Easement with <br />the property owner, Bank of America National Trust and Savings Association, for the acquisition <br />of an easement on a portion of 10297 Magnolia Avenue, Assessor's Parcel Number 145-220- <br />032, for the purchase price of $78,100; and <br />2. Approve the expenditure of $81,100 inclusive of the $78,100 purchase price and an estimated <br />amount of $3,000 for due diligence, title, escrow fees, and related closing costs. <br />BACKGROUND: <br />In January 2006, the Board of Public Utilities (Board) approved the largest capital project in the City of <br />Riverside's history, the Riverside Transmission Reliability Project (RTRP); and on February 5, 2013, the <br />City Council certified the Final Environmental Impact Report for RTRP. RTRP is a joint project with <br />Southern California Edison (SCE) to provide Riverside Public Utilities (RPU) a second connection to the <br />state electric transmission grid addressing long-term capacity and reliability needs of the City. <br />EXISTING <br />CINGI r rnmmrrTln Nl Tn cTATr rl is TDlr ADin <br />FOLLOWING PROJECT COMPLETION <br />TWO CONNECTIONS TO STATE ELECTRIC GRID <br />WILD LIFESWITCHYARD. <br />SECOND SOURCE OF POWER <br />SUBSTATION <br />