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FINANCIAL STATEMENT The JDEDZ ROW and Misc. Project, CIP No. 21596, was created by the City Council on May 4, 2021, with a transfer of$1.8 million from the Dublin Freeway Reimbursement Reserve, CIP No. 98590, to fund the acquisition of right-of-way needed to construct the JDEDZ Street Improvements. To date, $1,755,876 has been expended on right-of-way acquisition, along with some other minor miscellaneous costs, leaving an available balance of$44,124. The final two right-of-way purchase agreements total $229,762, leaving a shortfall of$185,637. It is recommended that $190,000 be transferred from the Dublin Freeway Reimbursement Reserve, CIP No. 98590 to the JDEDZ ROW & Misc., CIP No. 21596 to fully fund the final two purchase agreements, as well as any other minor miscellaneous costs necessary. BACKGROUND The Transportation Improvement and Cost Allocation Agreement (2018 Agreement) between the City and Costco was approved by the City Council and executed in February 2018. The 2018 Agreement provides the process to fund, design, and construct the five traffic mitigation measures identified as necessary by the JDEDZ Project's environmental clearance documentation. The 2018 Agreement requires Costco to manage the design and construction of the traffic mitigation measures and cover all costs associated with that effort. It requires the City to acquire the right-of-way needed to construct the traffic mitigation measures and cover the cost of doing so. The 2018 Agreement then details how and when the City will reimburse Costco a portion of the design and construction costs as well as how and when Costco will reimburse the City a portion of the right-of-way acquisition costs. In close consultation with the City, Costco completed the design of the five traffic mitigation measures. The JDEDZ Traffic Mitigation Measures Improvement Plans have since been permitted and the project is under construction. In total, the City had to acquire right-of-way from 10 property owners to construct the traffic mitigation measures. One of the 10 property owners is Costco and a condition of approval for Costco to develop a store on the property required Costco to dedicate the needed right- of-way, leaving the City to negotiate purchase agreements with only nine of the 10 property owners. However, a purchase agreement with Costco was still prepared to accomplish the right-of-way transaction. At its meeting on September 21, 2021, the City Council approved a right-of-way purchase agreement for the right-of-way needed from the Dublin San Ramon Services District (DSRSD). The total cost of the right-of-way was $1,302,251. Of the total right-of- way acquired, $1,026,640 of right-of-way was for property needed for the four traffic mitigation measures that are grouped and defined as the "JDEDZ Street Improvements" in the 2018 Agreement. The balance of $275,612 was for the property needed for the fifth traffic mitigation measure, which is called "Stoneridge 1-680 On-Ramp" in the 2018 Agreement. The transaction has been finalized, and the grant deed for the right-of-way has been recorded. This acquisition was accomplished first in order to satisfy a Caltrans requirement that the right-of-way was available for the Stoneridge Drive and 1-680 Page 2 of 5