HomeMy WebLinkAboutAgenda Statement 1977/12/20 Item 20CITY OF CHULA VISTA
COUNCIL AGENDA STATEMENT ~ Item No._„20
For meeting of 12/20/77
ITEM TITLE Resolution
Property CondemnatAoPr(Zogob)ppropriation of Funds relative to
SUBMITTED BY City Attorney/Community Development Director
ITEM EXPLANATION
(4/5TH'S VOTE REQUIRED YES X NO )
The City .Council, by Resolution No. 8798 on the rst of September, 1977,
appropriated the sum of $150,000 to be deposited as security with the
Superior Court to obtain immediate possession of the Zogob pro ert .
Council is aware, said amount is substantially less than the ultimate As
settlement, but was agreed upon in order to resolve two immediate pro-
blems: (1) to eliminate the interest of C. P.
on the property; and (2) to assist Mr. Zogob withfcash flowgproblemsr
Both of these goals would serve to mitigate any damages which may be
claimed as a result of the prolonged moratorium on the use of the pro-
perty by the owner.
Mr. Kiffe and Mr. Zogob filed the appropriate request for release of
the funds held as security; $125,000 was ultimately distributed to Mr.
Kiffe and $25,000 was distributed to Mr. Zogob. However, the internal
process in the County Clerk's office covered a span of some weeks during
which time Mr. Kiffe continued to be entitled to daily interest on his
trust deed. The interest which accrued during that period from the
request for release of the security to the execution of the release of
the trust deed was the sum of $1614.58.
with Mr. Zogob was intended, as indicatedspreviousloriginal stipulation
Mr. Kiffe from any interest in the property and to probide $25e0001tote
Mr. Zogob, it is apparent that the City should satisfy the interest pay-
ment to Mr. Kiffe. It is the opinion of the City Attorney that such interest
payment should be made as soon as possible and that said amount will be sub-
tracted from the ultimate settlement with Mr. Zogob.
(continued)
Agreement
Resolution X
EXHIBITS -
Ordinance
Other ENVIRONMENTAL DOCUMENT:
Plat Notification List
Attached Submitted on
FINANCIAL IMPACT $1614.58 from General Fund
ultimate reimbursement from
Project tax increments.
STAFF RECOMMENDATION Approval of Resolution
BOARD/COMMISSION RECOMMENDATION
unappropriated reserves with
the Town Centre Redevelopment
COUNCIL ACTION
~,, •z,
Agenda Item No. 20
Supplem~ntal,Page Two
Incidentally, Mr. Reed has indicated that there is a strong probabiltiy
of arriving at a settlement based upon the City's appraisal. Details
of the conceptual arrangement will be presented to the Agency by Mr.
Reed.
Therefore, it is recommended that Council appropriate $1614.58 to be
paid to C. P. Kiffe.
CERTIFICATE OF CITY/DIRECTOR OF FINANCE
Certification of Unappropriated Balance
Form No. F-229
12/73
,~
I HEREBY CERTIFY that the money required for the
appropriation of funds for the purpose set forth in the attached
resolution is available in the Treasury, or is anticipated to
come into the Treasury, and is otherwise unappropriated.
Amount S 1,614.58 Fund General
Purpose _Zogob Property Condemnation
Bidder N/A
621 6210 5202
~~
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Director of Finance
The City of Chula Vista
Date 12/19/77 By
Certification of Unencumbered Balance
I HEREBY CERTIFY that the indebtedness and obligation
to be incurred by the contract or agreement authorized by the
attached resolution can be incurred without the violation of any
of the provisions of the Charter of the City of Chula Vista, or
the Constitution or the laws of the State of California, that
sufficient monies have been appropriated for the purpose of said
contract, that sufficient monies to meet the obligations of the
contract are actually in the Treasury, or are anticipated to come
into the Treasury to the credit of the appropriation from which
the same are to be drawn, and that said monies now actually in
the Treasury, together with the monies anticipated to come into
the Treasury, to the credit of said appropriation are otherwise
unencumbered.
Amount Not to Exceed $
Director of Finance
The City of Chula Vista
Date
Fund
Purpose
Bidder
By
Dept./Activity
Certificate No. 55