Title
Department of Transportation recommending the Board consider the following:
1) Authorize the Chair to sign the Possession and Use Agreement with Douglas Grant Line Associates, Ltd., a Limited Partnership, Sacramento Realty Investors-El Dorado Ltd., a Limited Partnership, and Sacramento Realty Investors-Clarksville, Ltd., a Limited Partnership, for a portion of Assessor's Parcel Number 122-720-09; and
2) 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. 50/Silva Valley Parkway Interchange - Phase 1 Project, CIP No. 71328.
FUNDING: El Dorado Hills Traffic Impact Mitigation Fees - Silva Valley Interchange Set Aside Fund.
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BUDGET SUMMARY:
Total Estimated Cost…………… $300,000*
Budgeted………………………… $300,000
New Funding…………………….
Savings…………………………
Other……………………………
Total Funding Available………… $300,000
Change To Net County Cost…… $0
Fiscal Impact/Change to Net County Cost
Appraised value is estimated to be $300,000 (*subject to continuing negotiations). Funding for the acquisition process will be provided by El Dorado Hills Traffic Impact Mitigation Fees - Silva Valley Interchange Set Aside Fund.
Background
The Department of Transportation (Department) is working to advance the U.S. 50/Silva Valley Parkway Interchange - Phase 1 Project (Project), which will include a six-lane overcrossing (four through lanes and two deceleration lanes to the loop on-ramps), new signalized diagonal off-ramps, diagonal on-ramps, and loop on-ramps. The mainline will be improved to include east and west auxiliary lanes between El Dorado Hills Boulevard and the new interchange.
The Project is subject to the California Environmental Quality Act (CEQA). On June 28, 2011 the Board certified the CEQA Supplemental Environmental Impact Report and approved the Project and author...
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