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Title:
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AGREEMENT FOR CONVEYANCE OF EASEMENT WITH BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION LOCATED AT 10297 MAGNOLIA AVENUE, RIVERSIDE, CALIFORNIA, ASSESSOR’S PARCEL NUMBER 145-220-032 FOR THE RIVERSIDE TRANSMISSION RELIABILITY PROJECT – WORK ORDER 642975 FOR $81,100
That the Board of Public Utilities:
1. Recommend that the City Council approve the Agreement for Conveyance of Easement with the property owner, Bank of America National Trust and Savings Association for the acquisition of an easement on a portion of 10297 Magnolia Avenue, Assessor’s Parcel Number 145-220-032, for the purchase price of $78,100; and
2. Approve the expenditure of $81,100 inclusive of the $78,100 purchase price and an estimated amount of $3,000 for due diligence, title, escrow fees, and related closing costs.
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