Title
Transportation Department recommending Chairman be authorized to sign Certificate of Acceptance from Maricela Morales for APN 083-243-02; and authorize the Director of said Department or designee to execute escrow instructions and any other related escrow documents, including the payment of title and escrow fees for a temporary construction easement for the Cameron Park Drive and Oxford Road Project.
RECOMMENDED ACTION: Approve.
FUNDING: Traffic Impact Mitigation Fees.
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BUDGET SUMMARY:
Total Estimated Cost $1,500.00
Funding
Budgeted $1,500.00
New Funding $
Savings $
Other $
Total Funding Available $1,500.00
Change To Net County Cost $0
Fiscal Impact/Change to Net County Cost:
There is no Net County Cost.
The Cameron Park Drive and Oxford Road Project is funded with the Traffic Impact Mitigation Fee Program (TIM) funds and sufficient funds are in the project budget for the subject acquisition, including compensation to the owner of $500.00, plus title and escrow fees of approximately $1,000.00, for a total of $1,500.00
Background:
The El Dorado County Department of Transportation proposes to improve a portion of the Cameron Park Drive and Oxford Road intersection by installing turn signals and adding turn lanes in the road. The subject property is located on the east side of Cameron Park Drive and south of Oxford Road.
On May 9, 2006, staff asked for and received authorization to proceed with acquisitions for this project, based upon an appraisal performed by Bender Rosenthal, Inc., which determined the value of the easement area. On April 17, 2007 staff asked for and received authorization to open negotiations with the new property owner, Maricela Morales.
In an effort to ensure full disclosure was made to the new buyer, Maricela Morales, the R/W Unit staff prepared a draft TCE and forwarded it to Alliance Title Company (ATC), the title company handling the transa...
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