FOUR FIFTHS VOTE REQUIREMENT (1) Approval of a Standard Offer Agreement and Escrow Instructions for the Purchase of Real Estate for the Property Located at 5718 5722 Bankfield Avenue for a Purchase Price of $1.4 Million; and (2) Approval of a Budget Amendment Related Thereto. Item Number: C 3 City of Culver City California Agenda Item Report Meeting Date: 10/08/12 CITY COUNCIL AGENDA ITEM: FOUR FIFTHS VOTE REQUIREMENT (1) Approval of a Standard Offer Agreement and Escrow Instructions for the Purchase of Real Estate for the Property Located at 5718 5722 Bankfield Avenue for a Purchase Price of $1.4 Million; and (2) Approval of a Budget Amendment Related Thereto. Phone Number: (310) 253 5630 Contact Person/Dept.: Charles D. Herbertson Director of Public Works/City Engineer Fiscal Impact: Yes X No Public Hearing: Commission Action Required: Yes No X Date: _______________ Public Notification: (E Mail) Agendas and Meetings City Council (10/04/12) Department Approval: Charles D. Herbertson (10/02/12) Chief Financial Officer Approval: Jeff Muir (by M. Noller) (10/04/12) City Attorney Approval: Carol Schwab (by H. Baker) (10/02/12) City Manager Approval: John M. Nachbar (10/04/12) General Fund: Yes No X Attachments: Action Item: A budget amendment requires a four fifths vote. RECOMMENDATION: Staff recommends that the City Council approve a Standard Offer Agreement and Escrow Instructions for the purchase of real estate for the property located at 5718 5722 Bankfield Avenue for a purchase price of $1.4 million; and 2) approve a budget amendment to allocate $250 000 from the Sanitation Fund and $1 160 000 from the Sewer Fund for the purchase of the above property and related escrow expenses. BACKGROUND: Plans to modernize the City s sewer collection system include a new expanded pump station for the Fox Hills area. This new pump station in conjunction with new pipelines to divert sewage from the Overland Mesmer and old Fox Hills pump stations will allow the City to consolidat...
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