HomeMy WebLinkAboutResolution No. 290RESOLUTION NO. 290
RESOLUTION OF THE AZUSA REDEVELOPMENT AGENCY BOARD OF DIRECTORS
ESTABLISHING THE AMOUNT OF JUST COMPENSATION FOR THE
RESIDENTIALLY IMPROVED PROPERTY (232 S. SAN GABRIEL AVENUE) IN
CONJUNCTION WITH THE PROPOSED ROGERS TOYOTA DEVELOPMENT
WHEREAS, a part of the Agency's FY 1985-86 Redevelopment
efforts include the development of a new car franchise in the
Central Business District project area; and
WHEREAS, the acquisition of the property located at 232 N.
San Gabriel Avenue is not only consistent with 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 bases for determining
the Amount of Just Compensation; and
WHEREAS, the improved residential property located at 232 S.
San Gabriel Avenue, owned by Carl and Sandra Crandall, has 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 parcel has
been established at:
232 S. San Gabriel Avenue $85,000; and
WHEREAS, the California Administrative Code Title 25,
Chapter 6, indicates that the owner of the subject property is
not obligated to accept the above mentioned value and is entitled
to present evidence as to the amount they believe is the value of
the property; and
WHEREAS, the owners and Agency have negotiated a purchase
price acceptable to both parties based upon a number of
circumstances;
NOW, THEREFORE BE IT RESOLVED, the Azusa Redevelopment
Agency Board of Directors determine the amount of Just
Compensation to be:
$97,000 for 232 S. San Gabriel Avenue
and hereby authorizes the purchase of property at the said
purchase, and directs the Chairman to execute the appropriate
documents.
APPROVED AND ADOPTED this Hrh day of August , 1986.
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CHAIRMAN
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I hereby certify that the foregoing resolution was duly adopted
by the Redevelopment Agency of the City of Azusa at a regular
meeting thereof held on the 5th day of August 1986, by the
following vote of the Agency:
AYES: DIRECTORS: AVILA, COOK, CRUZ, LATTA, MOSES
NOES: DIRECTORS: NONE
ABo 'eRECTORS:, NONE
ADOLPH JMLIS
SECRET9RY