HomeMy WebLinkAboutAGENDA REPORT 2014 1015 CCSA REG ITEM 10GTo:
From:
Date:
Subject:
ITEM 10.G.
Honorable City Council
David C. Moe II, Economic Development and Housing Manager ~A--
October 2, 2014 (CC Meeting of 10/15/14)
Consider Resolution Authorizing the Acquisition of 1493 Walnut
Canyon Road, Amending the Fiscal Year 2014/15 Budget to Fund the
Purchase and Accepting the Grant Deed for Recordation
BACKGROUND AND DISCUSSION
The property located at 1493 Walnut Canyon Road ("Property") is listed for sale by
Rodeo Realty. The Property represents 50% of the needed right of way for the
construction of the future North Hills Parkway bridge. The North Hills Parkway project is
identified as Code No. 115 in the 2013/14 -2019/20 Seven Year Capital Improvement
Plan (Attachment A). The City of Moorpark already owns one of the three needed
parcels for the future bridge and is leasing it for residential use until it is needed. Staff
intends to acquire the Property and also lease it for residential use until it is needed.
Staff is currently negotiating with the owner of the last parcel needed to assemble the
land for the construction of the bridge.
The Property is 1/2 an acre in size, level, and all useable. The Property is improved
with a 2,519 square foot four bedroom, two and a 1/2 bath, single family residence. The
Property has an attached two car garage and room for RV parking. The Property is in
good condition.
Staff negotiated a purchase price of $640,000.00 for the Property. The owner accepted
the City's offer of $640,000.00 for the purchase of the Property and escrow has been
opened.
Staff recommends the City Council adopt a resolution authorizing the purchase of the
Property and a $650,000.00 budget appropriation to fund the purchase and closing
costs.
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Honorable City Council
Date 10/15/2014
Page2
FISCAL IMPACT
A budget amendment in the amount of $640,000.00 for the acquisition plus $10,000.00
for closing costs is requested from the City-Wide Traffic Mitigation Fund (2002) to close
escrow for the purchase of the Property. Net rental income from the property will be
placed in the City-Wide Traffic Mitigation Fund.
STAFF RECOMMENDATION (ROLL CALL VOTE REQUIRED)
1. Adopt Resolution No. 2014 -,
2. Authorize the City Manager to execute all documents necessary to effectuate this
transaction; and
3. Authorize the City Clerk to accept and consent to the recordation of any deed.
Attachment "A"
Attachment "B"
Excerpt from Seven Year Capital Improvement Plan
Resolution No. 2014 ---
66
ATTACHMENT A
City of Moorpark
Capital Improvement Program
Project Name: North Hills Parkway . Code No. 115 .
Account No. 8061 .
Location Map
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Project Description
The construction of a new east-west arterial street north of Casey Road. The westerly end of the street is
proposed to connect to Los Angeles Avenue, via a future railroad undercrossing, at a point west of Butter
Creek Road. Currently, the easterly terminus of this new street will be Spring Road. Segments of this
project will be constructed by developers (Tract 5147, Tract 5130, Tract 5045, Hitch Ranch, Centex and
the studio project) and other segments funded by the Citywide Traffic Mitigation Fund.
Project Funding Schedule Total Cost: $2,594,812
Prior Yrs FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 FY 19/20
Design 941,036 1,049,519
R-O-W 242,109 2,891
Construction 59,258 300,000
Inspection
Total 1,242,402 1,352,410 0 0 0 0 0 0
Funding Sources
Source Prior Yrs FY 13/14 FY 14/15 FY 15/16 FY 16/17 FY 17/18 FY 18/19 FY 19/20
2002:TrafMit 842,191 1,352,410
2610:TCF 400,211
Total 1,242,402 1,352,410 0 0 0 0 0 0
C 1P 2013/2014 B-18 6 18.201.1
F7
ATTACHMENT B
RESOLUTION NO. 2014 -__
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, APPROVING ACQUISITION OF
1493 WALNUT CANYON ROAD PROPERTY FOR THE NORTH
HILLS PARKWAY CAPITAL IMPROVEMENT PROJECT (8061),
ACCEPTANCE OF GRANT DEED, AND AMENDING THE
FISCAL YEAR 2014/15 BUDGET BY APPROPRIATING
$650,000.00 FROM THE CITY-WIDE TRAFFIC MITIGATION
FUND (2002)
WHEREAS, on June 18, 2014, the City Council adopted the Operating and
Capital Improvement Projects Budget for Fiscal Year 2014/2015; and
WHEREAS, the City Council of the City of Moorpark desires to improve traffic
circulation in the City by creating the North Hills Parkway; and
WHEREAS, the adopted budget includes an aggregate appropriation of
$1,337,492.00 from the City-Wide Traffic Mitigation Fund (2002), of which $2,891.00 is
allocated for land acquisition; and
WHEREAS, the property owner of 1493 Walnut Canyon Road is willing to sell
their property to the City of Moorpark for a total purchase price of $640,000.00, plus
closing costs; and
WHEREAS, a staff report has been presented to the City Council requesting a
budget adjustment of $650,000.00 from the City-Wide Traffic Mitigation Fund (2002);
and
WHEREAS, Exhibit "A", attached hereto and made a part hereof, describes said
budget amendment and the resultant impacts to the budget line item.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. The City Clerk shall accept and consent to the recordation of the
grant deed.
SECTION 2. A budget amendment in the amount of $650,000.00 from the City-
Wide Traffic Mitigation Fund (2002), as more particularly described in Exhibit "A",
attached hereto, is hereby approved for property acquisition.
SECTION 3. The City Clerk shall certify to the adoption of this resolution and
shall cause a certified resolution to be filed in the book of original Resolutions.
68
Resolution No. 2014 ---
Page2
PASSED AND ADOPTED this 15th day of October, 2014.
Janice S. Parvin, Mayor
ATIEST:
Maureen Benson, City Clerk
Attachment: Exhibit A -Budget Amendment
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EXHIBIT A
BUDGET AMENDMENT FOR
CITY-WIDE TRAFFIC MITIGATION FUND (2002) FOR ACQUISITION OF 1493 WALNUT CANYON ROAD
FY 2014/15
FUND ALLOCATION FROM:
Fund Account Number Amount
City-Wide Traffic Mitigation Fund 2002-5500 $ 650,000.00
Total $ 650,000.00
DISTRIBUTION OF APPROPRIATION TO EXPENSE ACCOUNTS:
Account Number Current Budget Revision Amended Budget
2002-8310-8061-9610 $ 2,891.00 $ 650,000.00 $ 652,891.00
2002-8310-8061-9601 $ 1,034,601.00 $ 885,625.00
2002-8310-8061 '-9640 $ 300,000.00 $ 300,000.00
Total $ 1,337,492.00 $ 650,000.00 $ 1,987,492.00
Approved as to Form: ....... >¥~---
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