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Transportation Department recommending Chairman be authorized to sign Acquisition Agreement for Public Purposes and Certificate of Acceptance for the related deed from CNL APF Partners, LP as the successor-by-merger of Real Estate Holdings II, LLC for APN 327-130-35; and authorize the Interim Director of Transportation or designee to execute the escrow instructions and any other related escrow documents pertaining to the transaction, including the payment of title and escrow fees for the U.S. Highway 50/Missouri Flat Road Interchange Improvement Project 71317, Phase 1A.
FUNDING: 2004 General Plan Traffic Impact Fee Program (TIM).
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BUDGET SUMMARY:
Total Estimated Cost $16,598.00
Funding
Budgeted $16,598.00
New Funding $
Savings $
Other $
Total Funding Available $16,598.00
Change To Net County Cost $0
Fiscal Impact/Change to Net County Cost:
The U.S. Hwy. 50/Missouri Flat Road Interchange Improvement Project #71317, Phase 1A, is funded with TIM funds and sufficient funds are in the project budget for the subject acquisitions, including acquisition costs of $71,232.00 plus title and escrow fees in the amount of $3,000.00, plus interest due in the amount of $5,266, for a total of $79,498.00. Under the terms of an Agreement For Possession and Use, $62,900.00 was previuously deposited into escrow; therefore, the amount of $16,598.00 is the remaining balance due.
There is no net cost to the County General Fund associated with this agenda item.
Background:
The U.S. Hwy. 50/Missouri Flat Road Interchange Improvement Project #71317, Phase 1A, required a portion of the subject property be acquired in fee for right of way purposes, along with a Temporary Construction Easement, in order to accommodate the widening of the intersection at Missouri Flat Road and Plaza Drive (the entrance to the Safeway Shopping Center).
On January 25, 2005, the Board authorized the Right of Way Unit ...
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