CC Resolution 10810
RESOLUTION NO. 10810
A RESOLUTION OF THE CITY OF CAMPBELL CITY COUNCIL AUTHORIZING A
BUDGET ADJUSTMENT IN THE AMOUNT OF $1,015,000 AND AUTHORIZING THE
CITY MANAGER TO EXECUTE A PURCHASE AND SALE AGREEMENT WITH
ANNA STOJANOVICH IN THE AMOUNT OF $2,250,000 FOR THE ACQUISITION OF
316 UNION AVENUE FOR A PUBLIC PARK
WHEREAS, the City of Campbell General Plan Open Space Element Strategy
OSP-5.1 a calls for evaluating open space and park acquisition opportunities as they
become available; and
WHEREAS, the City of Campbell has the opportunity to acquire 1.32 acres of
land at less than 50% of market value in an area consisting of multi-family housing; and
WHEREAS, the City Council desires to take advantage of this unique opportunity
to add to the City's open space and recreational facilities on the east side of the City.
NOW, THEREFORE, BE IT RESOLVED, that the City of Campbell City Council
authorizes the following:
1.
The City Manager to execute a purchase agreement with Anna
Stojanovich to acquire 316 Union Avenue for $2,250,000; and
A budget adjustment to fund the 2007/08 budget with $1,015,000
from the Park Dedication Fund representing the land acquisition
costs for this fiscal year.
2.
PASSED AND ADOPTED, this 4th day of September, 2007 by the following roll
call vote:
AYES: Councilmembers Kennedy, Hernandez, Low, Burr, Furtado
NOES: Councilmembers None
ABSTAIN: Councilmembers None
ABSENT: Councilmembers None
ATTEST~~'-
Anne Bybee, City Clerk
City of Campbell
Request for Budget Adjustments
............ .... Division>. ......... ..... ........ ...l.... ....... .....Date... · ....>1.. RequestN()~.
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....Fund..
295
Fund
295
435
435
Redevelopment Agency
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3799
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AccouJitNui11ber T
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RDA Administration
Bud2et to be Reduced
i September 4, 2007 i
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BA 08-04
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....... Amount..:. ....
Beginning Fund Balance
Bud2et to be Increased
Park Dedication Fund
1,015.000
.......Amollot......
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Capital Transfer Out Park Dedication Fund I
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Land acquisition for public park
Capital Transfer In
REASON FOR REQUEST - BE SPECIFIC:
0810.9999
0810.7880
990.6999
Land acquisition costs for 316 Union Ave. to be developed into a public park.
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Kirk Heinrichs
RedevelopmenfManager -
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. Finance-OirectOi--
CIP 08-10
Capital Project
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~'( Daniel Rich
--- City"'Maiiager'--
1,015,000
1,015,000
1,015,000
8/16/2007