Title
Transportation Department recommending Chairman be authorized to sign Traffic Signal Appurtenances Easement Agreement and Certificate of Acceptance with Arrowest Properties, Inc. (Grantor) and Montano Ventures, I, LLC, (Lessee), for a portion of APN 118-010-12 for White Rock Road and Post Street Signalization Project 73310.
RECOMMENDED ACTION: Approve.
FUNDING: 2004 General Plan Traffic Impact Mitigation (TIM) Fee Program.
Body
BUDGET SUMMARY: |
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Total Estimated Cost |
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$ 1.00 |
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Funding |
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Budgeted |
$ 1.00 |
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New Funding |
$ |
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Savings |
$ |
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Other |
$ |
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Total Funding Available |
$ 1.00 |
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Change To Net County Cost |
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$ |
Fiscal Impact/Change to Net County Cost:
Arrowest Properties, Inc. is granting said easement for the consideration of $1.00 (one dollar), recognizing the benefit to its property. Adequate funding has been budgeted for this acquisition from TIM. There is no net County cost associated with this agenda item.
Reason for Recommendation:
The Department of Transportation is in receipt of a Traffic Signal Appurtenances Easement Agreement to the County of El Dorado for the installation of traffic signals and appurtenances, as described in Exhibit "A-1", and depicted on Exhibit "B-1", attached to said Agreement.
Said Agreement is necessary in order to accommodate the installation of traffic signals and appurtenances at the intersection of White Rock Road and Post Street, in El Dorado Hills.
Action to be taken following Board approval:
1. Board Clerk to return one fully-executed original Traffic Signal Appurtenances Easement agreement and Certificate of Acceptance to DOT staff for further processing and recording of the documents.
2. DOT staff to provide copies of the recorded documents to Arrowest Properties, Inc., along with payment in the amount of $1.00 (one dollar).
Contact: Dori Floyd #3559, Pete Feild #7666