STRATEGIC PRIORITY: Transportation & Infrastructure
AGENDA DATE: May 10, 2023
COUNCIL DISTRICT(S): 7
DEPARTMENT: Department of Public Works
EXECUTIVE: Dr. Robert Perez
______________________________________________________________________
SUBJECT
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Authorize an increase in the purchase amount of acquisition from Light Economic & Development, Inc., of approximately 4,140 square feet of land improved with a single-family dwelling located near the intersection of Dolphin Road and Detonte Street for the Dolphin Road from Spring Avenue to North Haskell Avenue Project - Not to exceed $82,047.00, increased from $140,000.00 ($136,124.00, plus closing costs and title expenses not to exceed $3,876.00) to $225,000.00 ($218,171.00, plus closing costs and title expenses not to exceed $6,829.00) - Financing: Street and Transportation (A) Fund (2017 General Obligation Bond Fund) ($16,409.40) and Capital Projects Reimbursement Fund ($65,637.60)
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BACKGROUND
This item authorizes an increase in the purchase amount of acquisition from Light Economic & Development, Inc., of approximately 4,140 square feet of land improved with a single-family dwelling located near the intersection of Dolphin Road and Detonte Street for the Dolphin Road from Spring Avenue to North Haskell Avenue Project. This property will be used for street improvements. The consideration is based on an independent appraisal. Relocation benefits are estimated to be $24,000.00.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On January 27, 2021, the City Council authorized acquisition from Light Economic & Development, Inc., of approximately 4,140 square feet of land located near the intersection of Dolphin Road and Detonte Street for the Dolphin Road from Spring Avenue to North Haskell Avenue Project by Resolution No. 21-0225.
FISCAL INFORMATION
|
Fund |
FY 2023 |
FY 2024 |
Future Years |
|
Street and Transportation (A) Fund (2017 General Obligation Bond Fund) |
$16,409.40 |
$0.00 |
$0.00 |
|
Capital Projects Reimbursement Fund |
$65,637.60 |
$0.00 |
$0.00 |
|
Total |
$82,047.00 |
$0.00 |
$0.00 |
Resolution No. 21-0225 $136,124.00
Additional Amount (this action) $ 82,047.00
Total Authorized Amount $218,171.00
OWNER
Light Economic & Development, Inc.
Ron Shaw, President
MAP
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