HomeMy WebLinkAboutAgenda Statement 1984/05/15 Item 12 COUNCIL AGENDA STATEMENT
Item }9 12
Meeting Date 5/48/84
ITEM TITLE: Resolution (/' 3 Authorizing the purchase of property
located at 263 Landis Avenue and appropriating $105,600 from
the Parking Meter Fund for said purchase
SUBMITTED BY: Community Development Directorlhs Vote: Yes X No )
REVIEWED BY: City Manager f�-
On October 18, 1983, City Council authorized negotiation for the purchase of a
parcel of property located at 263 Landis Avenue. Negotiation with the owner
has been completed and a conditional escrow opened with Ticor Title Insurance
Company.
The purchase of the subject property for use as a 17-space parking lot is a
Class (11 ) exemption from environmental review.
RECOMMENDATION: That the City Council adopt the attached resolution
authorizing the purchase of property at 263 Landis Avenue and:
a) appropriate $105,600 from the Parking Meter Fund, and
b) authorize the submittal of the attached Purchase Agreement/Escrow
instructions and Grant Deed into an escrow account for the purchase of the
subject property.
BOARDS/COMMISSIONS RECOMMENDATION: The Parking Place Commission and the
Town Centre Project Area Committee both recommend purchase of the subject site.
DISCUSSION:
The purchase of the property at 263 Landis Avenue includes 6,250 square feet
(50 foot by 125 foot parcel ) of real property improved with a one-story
single-family residence with attached garage. The house is approximately 40
years old. The lot is designated as Central Commercial on the Redevelopment
Land Use Plan and underlying zoning is C-O-P. Purchase of this property,
which is available to the City exclusively at this time, will remove an
existing blight from the Town Centre and allow the development of an enlarged
public parking lot. This will be particularly attractive to the new
commerical and converted uses in the vicinity. (Later this year, a study of
overall downtown parking will be conducted, as directed by the City Council . )
A professional appraisal of the site was prepared by Hilliard Lipman and
Associates in August 1982. (A copy of the report is available in the
Community Development Department office for Council review. ) An appraised
value of $100,000 was determined and subsequently agreed upon as the purchase
price.
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Meeting Date-51• 1f34- 5/15/84
The attached agreement establishes the responsibilities of the Glenn family,
as owners, and City of Chula Vista in this transaction and will be submitted
to Ticor Title as escrow instructions.
Once the property has been conveyed to the City, it is planned to relocate the
existing residents, a three-member family. The City's current insurance
policy will cover liability and fire while the family is in residence with no
additional premium.
FISCAL IMPACT: Costs related to the purchase of the subject property are
estimated as follows:
Purchase Price (appraised value) $100,000
Escrow Expense (estimate) 800
Relocation Expense (maximum estimate) 4,800
Total $105,600
Funds are available for this purchase and related expenses from the Parking
Meter Fund. Alternative methods of financing could include a pay-back to the
Parking Meter Fund from the in-lieu parking fees as they are collected.
(Currently this account has approximately $20,000; however, the South Bay
Surgi-Center will be contributing an additional $60,000+ by the end of the
summer. ) Redevelopment Agency Bond funds are also available for financing the
purchase, or could be utilized for design and construction of the parking
facility.
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