HomeMy WebLinkAboutResolution No. 264RESOLUTION 264
RESOLUTION OF THE AZUSA REDEVELOPMENT AGENCY BOARD OF
DIRECTORS ESTABLISHING THE AMOUNT OF JUST COMPENSATION
FOR THE RESIDENTIALLY IMPROVED PROPERTIES (228-232-240-
242 SOUTH SAN GABRIEL AVENUE) IN CONJUNCTION WITH THE
PROPOSED ROGERS TOYOTA DEVELOPMENT
WHEREAS, a part of the Agency's FY1985-86 Redevelopment
efforts include the development of a new car franchise in the
Central Business District project area; and
WHEREAS, the acquisition of the properties located at 228-
232-240-242 South San Gabriel is not only consistent with the
project area goals, but is necessary in providing adequate area
for the proposed new car franchise; and
WHEREAS, the California Administrative Code, Title 25,
Chapter 6, requires that a Fair Market Value be established by an
independent appraiser which services as the basis for determining
the amount of Just Compensation; and
WHEREAS, the improved residential properties located at 228
S. San Gabriel Avenue, owned by Edgar and Connie Reynolds, 232
S. San Gabriel Avenue, owned by Carl and Sandra Crandall, 240 S.
San Gabriel Avenue, owned by Genko and Yoshino Uyehara, and 242
S. San Gabriel Avenue, owned by Genko Uyehara, have been
appraised by an independent appraiser in a competent manner in
accordance with the Code and other applicable regulations; and
WHEREAS, the Fair Market Value of the subject parcels have
been established at:
228
S.
San
Gabriel
Avenue
$81,000
232
S.
San
Gabriel
Avenue
$85,000
240
S.
San
Gabriel
Avenue
$78,000
242
S.
San
Gabriel
Avenue
$93,000; and
WHEREAS, upon completion of formal negotiations, the Agency
intends to pursue the acquisition of the subject parcels and
obtain the respective fee simple interests:
NOW, THEREFORE, BE IT RESOLVED, the Azusa Redevelopment
Agency Board of Directors determine the amount of Just
Compensation to be:
$81,000 for 228 S. San Gabriel Avenue
$85,000 for 232 S. San Gabriel Avenue
$78,000 for 240 S. San Gabriel Avenue
$93,000 for 242 S. San Gabriel Avenue
and hereby authorizes staff to commence formal acquisition
procedures.
APPROVED AND ADOPTED this 21st day of April , 1986.
EUGENE MOSES
CHAI
G
I hereby certify that the foregoing
by the Redevelopment Agency of the
meeting thereof held on the 21st day
following vote of the Agency:
AYES:
DIRECTORS:
NOES: DIRECTORS:
ABSENT* DIRECTO S:
ZZ1
ADOLPH OLIS
SECRET Y
0
resolution was duly adopted
City of Azusa at a regular
of April , 1986, by the
AVILA, COOK, LATTA, MOSES
NONE
CRUZ
0 0
STATEMENT OF THE BASIS FOR THE DETERMINATION OF JUST COMPENSATION
The Determination of Just Compensation is based upon the Fair
Market Value established by two qualified independent
appraisers. The generally recognized definition of Fair Market
Value in California is:
"the highest price on the date of valuation that would be
agreed by a seller, being willing to sell but under no
particular or urgent necessity for so doing and a buyer,
being ready, willing and able to buy but under no particular
necessity for so doing, each dealing with the other with
full knowledge of all the uses and purposes for which the
property is reasonably adaptable and available" (See
California Code of Civil Procedure 1263.320)
Property Description: Lots 13, 14, 15 & 16 of Tract No. 13641 as
recorded in Map Book 328, Pages 18 and 19 in the Office of the
County Recorder of Los Angeles County.
Improvements Covered by the Offer:
Lot 13: The site consists of 1,404± square feet of residential
building area located on 6,143 ± square feet of
property. These improvements are in average condition.
Land and Improvements ..................... $93,000
Lot 14: The site consists of 908± square feet of residential
building area located on 7,107± square feet of
property. These improvements are in average condition.
Land and Improvements ..................... $78,000
Lot 15: The site consists of 1,088± square feet of residential
building area located on 7,107+ square feet of
property. These improvements are in average condition.
Land and Improvements ..................... $85,000
Lot 16: The site consists of 868± square feet of residential
building area located on 7,107± square feet of
property. These improvements are in average condition.
Land and Improvements ..................... $81,000
Based upon the Fair Market Value established by an independent
appraisal and the Agency's inspection of the subject parcel, the
above mentioned amount is believed to be just compensation for
the subject property. The City of Azusa Redevelopment Agency's
determination of just compensation is not less than its approved
appraisal of the Fair Market Value of the property. The Market
Data and Value Approaches were the basic methods of estimating
value.
The offer of Just Compensation disregards any decrease or
increase in the Fair Market Value of the subject property caused
by the projects of the Redevelopment Agency of the City of Azusa,
or by the likelihood that the property would be acquired for such
projects, other than that due to physical deterioration within
the reasonable control of the owners.
Further, the appraisals and determination of just compensation do
not reflect any consideration of, or allowances for, any
relocation assistance and payments under Chapter 6, Title 25 of
1
0
0
the California Administration Code, Section 7262 of the
California Government Code, Section 1263.010 of the California
Code for Civil Procedures or the Redevelopment Agency of the City
of Azusa's agreement to pay certain settlement costs.
The Agency recognizes that, under certain circumstances, special
interests in the real property it proposes to buy, e.g. easements,
leaseholds, tenant -owned improvements, life estates and water,
gas, oil or mineral rights, may belong to parties other than the
recorded title holder. In such cases, the Agency, after
appropriate investigation of the various interests, may apportion
its offer of just compensation in accordance with the respective
interests of each of the parties involved. The owner, tenant and
any other party, or parties with interests, must be in full
agreement about any apportionment before the Agency can conclude
an acquisition.
Accordingly, the basis for the determination of just compensation
does not include any apportionment for any un -disclosed
interest(s) of the type described but rather, reflects a
determination based on the Redevelopment Agency of the City of
Azusa's review of independent appraisals made on the subject
parcels.