Title
Transportation Department recommending the Board:
1) Approve and authorize the Chairman to sign the Agreement for Possession and Use for Assessor's Parcel Number 327-130-35, owned by Real Estate Holdings, II, LLC, A Delaware Limited Liability Company, and Jack in the Box Inc., a Delaware Corporation.
2) Approve and authorize the Chairman to sign the Agreement For Grant of Temporary Construction Easement and Relocation of Signage, with Jack in the Box Inc., a Delaware Corporation.
3) Approve the Temporary Construction Easement from Jack in the Box Inc. a Delaware Corporation, and authorize the Chairman to sign the Certificate of Acceptance for the temporary easement.
4) Authorize the Director of Transportation or designee to execute Escrow Instructions and any other related escrow documents pertaining to these transactions, including the deposit of funds into escrow for initial disbursements that owner and tenant are entitled to per said Agreements, and payment for any associated title and escrow fees related to this initial disbursement.
RECOMMENDED ACTION: Approve.
FUNDING: 2004 General Plan Traffic Impact Mitigation Fee Program (TIM) funds.
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BUDGET SUMMARY:
Total Estimated Cost $81,168.
Funding
Budgeted $81,168.
New Funding $
Savings $
Other $
Total Funding Available $81,168.
Change To Net County Cost $0
Fiscal Impact/Change to Net County Cost:
The Phase 1A project is funded with 2004 General Plan Traffic Impact Mitigation Fee Program (TIM) funds and sufficient funds are in the project budget for the subject Acquisition. The acquisition costs to the owner of $62,900, plus an additional payment to the tenant of $16,268, plus title and escrow fees in the amount of $2,000, equal a total estimated cost of $81,168.
Background:
The U.S. Hwy. 50/Missouri Flat Rd. Interchange Project #71317 requires that portions of the subject property be acquired for right of way purposes...
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