Agenda Item
City Council
Item #: 6.1. 5/23/2023 File #: 23-0343
TO: Honorable Mayor and Members of the City Council
THRU: Tom Kisela, City Manager
FROM: Christopher Cash, Public Works Director
1. SUBJECT
Appropriation of $1,385,000 from the Capital Projects Fund (500) unreserved fund balance for the purchase of property located at 2829 N. Glassell Street (Olive Park).
2. SUMMARY
The Purchase and Sale Agreement for the purchase of property located at 2829 N. Glassell Street (Olive Park) was approved by the City Council on May 9, 2023. The appropriation of funds is needed for the purchase of property.
3. RECOMMENDED ACTION
Authorize the appropriation of $1,385,000, representing the original purchase amount of $1,375,000 plus $10,000 for miscellaneous escrow fees and charges, from the Capital Projects (500) unreserved fund balance to 500.7021.56012.20533 (2829 N. Glassell Street).
4. FISCAL IMPACT
The total expenditure for this purchase is $1,385,000 and will be funded in 2829 N. Glassell Street (20533) through Capital Projects (500).
With this appropriation, the estimated unreserved fund balance in Capital Projects (500) is $7,216,000.
5. STRATEGIC PLAN GOALS
Goal 1: Provide for a safe community
b: Provide and maintain infrastructure necessary to ensure the safety of the public.
Goal 4: Provide outstanding public service
b: Provide facilities and services to meet customer expectations.
6. DISCUSSION AND BACKGROUND
The City Council previously approved the Purchase and Sale Agreement for the property located at 2829 N. Glassell Street on May 9, 2023. This property is located immediately adjacent to the parking lot for Olive Park. As parking at Olive Park is inadequate to support the heavy use of the baseball fields, the subject property would be an ideal location to create additional overflow parking to support the park.
With the approval of the purchase, the appropriation of funds is needed to complete this real property City of Orange Printed on 5/18/2023Page 1 of 2
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Item #: 6.1. 5/23/2023 File #: 23-0343
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7. ATTACHMENTS
· None
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