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there is not yet a purchase agreement. The budget numbers are based upon the appraised value of the land needed from these properties AND the final negotiated purchase price of the other land being acquired from properties along Johnson Drive. The six negotiated purchase agreements are included in this report as Attachment 8. Staff recommends City Council approve the six purchase agreements and authorize the City Manager to execute the purchase agreements. As stated previously, staff will continue to work with the other two property owners and, if successful, present those purchase agreements to City Council at a later date. JDEDZ Traffic Mitigation Measures Cost Allocations per Amended 2018 Agreement Assuming City Council approves Amendment One to the 2018 Agreement, the following table shows how the amended 2018 Agreement applies to the Final Cost Estimate. The numbers are presented as if the Final Cost Estimate is the exact total cost of the project at completion. City Council should expect the numbers to be slightly different upon completion of the project when the final Cost Certification reflecting actual Costco expenditures is prepared at project completion. Since the Final Cost Estimate is considered conservative as previously discussed, it is anticipated the numbers will lower slightly from what is shown in this table when the final Cost Certification is prepared. Costco City Loan Stoneridge Drive and 1-680 Project $11,600,000 $ 1,546,332 JDEDZ Street Improvements $9,281,527 $ 8,571,527 JDEDZ Right-of-way $ 1,290,938 $ 1,290,938 Total $9,281,527 $12,890,938 $11,408,797 Capital Improvement Program Budget The City created two CIP budgets to implement different aspects of the JDEDZ Project, CIP No. 18531, Stoneridge Drive and 1-680 On-Ramp Project and CIP No. 21596 JDEDZ ROW and Misc. CIP No. 18531, Stoneridge Drive and 1-680 On-Ramp was created in 2018 to fund the Stoneridge Drive and 1-680 Project (as it is called in the 2018 Agreement) with a budget of $6,385,568. The allocated funds are Traffic Impact Fees as this project is identified in the City's General Plan as necessary regardless of the JDEDZ Project. Understanding construction costs were increasing, staff applied for and received a grant toward the Stoneridge Drive and 1-680 On-Ramp project from the Alameda County Transportation Commission (ACTC) in the amount of $5.2 million. City Council accepted the grant in 2021 and allocated the grant funds to CIP No. 18531, increasing the total budget in CIP No. 18531 to $11,585,568. With the proposed Amendment One to the 2018 Agreement, based on the Final Cost Estimate the total CIP budget amount needed for direct reimbursement of the Stoneridge Drive and 1-680 Project at the completion of the project is $11.6 million, leaving a shortfall of $14,432 in CIP No. 18531. Since the Final Cost Estimate includes Page 9 of 12