HomeMy WebLinkAboutAGENDA REPORT 2016 0720 CC SPC ITEM 05A ITEM 5.A.
MOORPARK CITY COUNCIL CITY OF MOORPARK,CALIFORNIA
AGENDA REPORT City Council Meeting
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TO: Honorable City Council ACTION:/ ,
FROM: Jessica Sandifer, Program Manag=71' �� •Nln p/6 ��5
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DATE: July 15, 2016 (Special CC Meeting of 7/20/16)
SUBJECT: Consider Resolution Amending FY 2016/17 Budget for Funding
Property Acquisition for the Moorpark Avenue Widening Capital
Improvement Project(CIP 8040)
BACKGROUND & DISCUSSION
Each budget cycle, staff typically budgets funding for property acquisitions necessary
for various capital improvements to avoid potential delays with opening or closing of
escrow. No funds were budgeted in the FY 2016-17 budget for property acquisition for
the Moorpark Avenue Widening project. This project includes the realignment of the
Moorpark Avenue intersection with Poindexter Avenue and First Street. At this time
there is one property on the open market at 488 McFadden Avenue ("the Property").
While no specific design has been completed, conceptual designs indicate that a portion
of the frontage of the Property on Poindexter Avenue will be required for the
realignment of the intersection. Since the Property is in good repair, it will be rented out
until the property is needed for the realignment. The remaining portion of the property
unaffected by the realignment project would be sold after the project is completed.
FISCAL IMPACT
Staff is requesting a budget amendment of $600,000 from the City-wide Traffic
Mitigation Fund (2002) for the Property acquisition.
Staff expects to rent the property and the rental revenue will be credited back to the
fund used to purchase the property.
STAFF RECOMMENDATION (ROLL CALL VOTE)
1. Approve acquisition of the property at 488 McFadden Avenue, and authorize the
City Manager to approve and execute all documents necessary to effectuate the
transaction; and
2. Authorize the City Clerk to accept interest in the real property; and
3. Adopt Resolution No. 2016- , amending the Fiscal Year 2016/17 budget for
property acquisition as outlined in the staff report.
Attachment: Resolution No. 2016- .
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RESOLUTION NO. 2016-
A RESOLUTION OF CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, AMENDING THE FISCAL YEAR
2016/17 BUDGET BY APPROPRIATING $600,000.00 FROM
THE CITY-WIDE TRAFFIC MITIGATION FUND (2002) FOR
PROPERTY ACQUISITIONS FOR THE MOORPARK AVENUE
WIDENING PROJECT (CIP 8040)
WHEREAS, on June 15, 2016, the City of Moorpark adopted the Operating and
Capital Improvement Projects budget for Fiscal Year (FY) 2016/17 which does not
include an appropriation for land acquisition in the Moorpark Avenue Widening Capital
Improvement Project 8040 (CIP 8040); and
WHEREAS, a staff report has been presented to City Council requesting an
appropriation of$600,000 from the City-wide Traffic Mitigation Fund (2002) for potential
property acquisitions relating to the CIP 8040; and
WHEREAS, Exhibit "A", attached hereto and made a part hereof, describes said
budget amendment and the resultant impact to the budget line item.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. A budget amendment in the amount $600,000.00 from the City-
wide Traffic Mitigation Fund (2002), as more particularly described in Exhibit "A",
attached hereto, is hereby approved..
SECTION 2. 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.
PASSED AND ADOPTED this 20th day of July, 2016.
Janice S. Parvin, Mayor
ATTEST:
Maureen Benson, City Clerk
Exhibit A — Budget Amendment
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EXHIBIT A
BUDGET AMENDMENT FOR
City-wide Traffic Mitigation Fund(2002)for
Moorpark Avenue Widening Project(CIP 8040)
Land Acquistion
FY 2016/17
FUND ALLOCATION FROM:
Fund Account Number Amount
City-Wide Traffic Mitigation Fund 2002-5500 $ 600,000.00
Total $ 600,000.00
DISTRIBUTION OF APPROPRIATION TO EXPENSE ACCOUNTS:
Account Number Current Budget Revision Amended Budget
2002.8310.8040.9601 $ - $ - $ -
2002.8310.8040.9610 $ - $ 600,000.00 $ 600,000.00
$ - $
Total $ - $ 600,000.00 $ 600,000.00
Approved as to Form: 4
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