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Home My WebLink AboutResolution No. 381RESOLUTION NO. 381 RESOLUTION OF THE AZUSA REDEVELOPMENT AGENCY BOARD OF DIRECTORS ESTABLISHING THE AMOUNT OF JUST COMPENSATION FOR A TWENTY THOUSAND SQUARE FOOT PORTION OF THE LARGER PROPERTY AT 575 EAST FOOTHILL BOULEVARD IN CONJUCTION WITH THE PROPOSED AZUSA GARDENS PROJECT WHEREAS, a part of the Agency's FY 1987-88 redevelopment efforts include the development of a 112 -unit multi -family residential development in the Central Business District Redevelopment Project Area; and WHEREAS, the acquisition of the four hundred foot by fifty - foot portion of the property located at 575 East Foothill Boulevard is not only consistent with project area goals, but is necessary to provide access for the housing project; and WHEREAS, the California Administrative Code, Title 25, Chapter 6, requires that a Fair Market Value be established by an independent appraiser which serves as the basis for determining the Amount of Just Compensation; and WHEREAS, the improved property located at 575 East Foothill Boulevard, owned by the Archdiocese of Los Angeles Education and Welfare Corporation, 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 $198,000 as discussed in the Statement of the Basis for Determination of Just Compensation attached hereto as Exhibit A; 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 $205,000 for the twenty thousand square foot parcel of real property located at 575 East Foothill Boulevard and hereby authorizes the purchase of property at the said purchase price, and directs the Chairman to execute the appropriate documents. APPROVED AND ADOPTED this 7th day of July , 1987. MAN fI HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Board of Directors of the Azusa Redevelopment Agency of the City of Azusa, at a regular meeting thereof held on the 7th day of July , 1987. AYES: BOARD MEMBERS NOES: BOARD MEMBERS ABSENT: BOARD MEMBERS Secret AVILA, COOK, CRUZ, LATTA, MOSES NONE NONE • EXHIBIT A STATEMENT OF THE BASIS FOR THE DETERMINATION OF JUST COMPENSATION The Determination of Just Compensation is based upon the Fair Market Value established by a qualified independent appraiser. 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: Westerly 50 feet in width of the southerly 400 feet of Lot 86 and Subdivision No. 2 Azusa Land and Water Company, partly within the City of Azusa, County of Los Angeles, State of California, as per Map recorded in Book 43, Page 94 of Miscellaneous Records in the Office of the County Recorder of Los Angeles County (Assessor's Parcel No. 8608-30-10). Improvements Covered by the Offer: The site is part of a larger 63,574 square foot site that previously was improved with a large older home and a garage structure. The home and garage structure have since been removed, and the site now stands unimproved. Based upon the Fair Market Value established by an independent appraisal and the Agency's inspection of the subject parcel, the amount of $205,000 is believed to be just compensation for the subject property. The City of Azusa Redevelopment Agency's determination of just compensation is not less that its approved appraisal of the Fair Market Value of the property. The Market Data Approach was the basic method of estimating value. Since the appraised subject property is part of a larger parcel, the appraisal included an assessment of severance damages. The appraisal report indicated that acquiring the subject property does not damage the remaining larger parcel as to its useability and value. In fact, it is suggested that it would have the added benefit of enhancing the parcel's configuration into a corner site. 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 the California Administration Code, Section 7262 of the California Government Code, Section 1263.010 of the California Code for Civis 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. 0 Accordingly, the basis for the determination of just does not include any apportionment for any interest(s) of the type described but rather, determination based on the Redevelopment Agency of Azusa's review of independent appraisals made on parcels. TRK/tmb compensation undisclosed reflects a the City of the subject 9 _ 17 QrG 1 •.w :L��sJ a0 1, A. aao 5 O c tSHEET, mo a mj oN I 8j-6 vo �s f00 8TH ST. 000 O % U tee__ 15 , 0 8 _ F I F F (D EG /L 7 !A, 6tC. 8625 J3819 —_—. _— 8820 I 1 fC 0 RY• 0608130E1 CALE 1" _ 17 QrG 1 •.w :L��sJ a0 1, A. aao 5 O c tSHEET, mo a mj oN I 8j-6 vo �s f00 8TH ST. 000 O % U tee__ 15 , 0 8 _ F I F F (D EG /L 7 !A, 6tC. 8625 J3819 —_—. _— 8820 I 1 fC 0 RY• e/s � 29 Z z7e.10 O�.�s:/ <— Acquisition Parcel e L' 27L 67 i /SF Y0F7 Larger Parcel V) III - O ? 'c /,1139 �-NIS o FOOTHILL 75 East Foothill BLVD. o 1 LJ I 1 0458819--8819 ¢, 8819 --8820 9 �y it ' RANCHO AZUSA FINALLY CONFIRMED TO u 01 CODE HENRY DALTON- P 2 -106 -107 BK _ - - 2045 AZUSA M.R. 15- 93 - 96 6820 SUBDIVISION NO.2 AZUSA LAND AND CONDOMINIUM 2007 WATER CO._ _ _ M.R.43 - 94 TRACT NO. 42109- M. B. 1014_ I - 2 THELEMON TRACT M.B. 11 - 108 FOR PREY. ASSM'T SEE: -'- '-- 6607. 1, 26 6 19 r/ ee nJer ,(COs N 'FO ASSESSOR'S MAP COUNTY OF LOS ANGELES, CALIF. C •� `YJ ` 0 87 c. :I e/s � 29 Z z7e.10 O�.�s:/ <— Acquisition Parcel e L' 27L 67 i /SF Y0F7 Larger Parcel V) III - O ? 'c /,1139 �-NIS o FOOTHILL 75 East Foothill BLVD. o 1 LJ I 1 0458819--8819 ¢, 8819 --8820 9 �y it ' RANCHO AZUSA FINALLY CONFIRMED TO u 01 CODE HENRY DALTON- P 2 -106 -107 BK _ - - 2045 AZUSA M.R. 15- 93 - 96 6820 SUBDIVISION NO.2 AZUSA LAND AND CONDOMINIUM 2007 WATER CO._ _ _ M.R.43 - 94 TRACT NO. 42109- M. B. 1014_ I - 2 THELEMON TRACT M.B. 11 - 108 FOR PREY. ASSM'T SEE: -'- '-- 6607. 1, 26 6 19 r/ ee nJer ,(COs N 'FO ASSESSOR'S MAP COUNTY OF LOS ANGELES, CALIF.