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HomeMy WebLinkAboutResolution No. OB-20-2015RESOLUTION NO. OB -20-2015 RESOLUTION OF THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA APPROVING AND ADOPTING FIVE (5) REVISED DATA SHEETS TO THE LONG-RANGE PROPERTY MANAGEMENT PLAN PURSUANT TO HEALTH AND SAFETY CODE SECTION 34191.5 WHEREAS, pursuant to Health and Safety Code Section 34173(d), the City of Azusa elected to serve as the successor agency ("Successor Agency") to the Redevelopment Agency of the City of Azusa ("Redevelopment Agency"); and WHEREAS, the Oversight Board is the Successor Agency's oversight board pursuant to Health and Safety Code Section 34179(a); and WHEREAS, following receipt of a Finding of Completion by the California Department of Finance ("DOF") on May 31, 2013, Health and Safety Code Section 34191.5(b) requires the Successor Agency to prepare a long-range property management plan ("LRPMP") that addresses the disposition and use of the real properties of the Redevelopment Agency, and that must be submitted to the Oversight Board and DOF for approval; and WHEREAS, the Successor Agency prepared a LRPMP that addresses the disposition and use of the properties of the former Redevelopment Agency and contains all the information required under Health and Safety Code Section 34191.5, which was approved by the Successor Agency on November 2, 2015 and the Oversight Board on November 11, 2015, and thereafter submitted to DOF for review; and WHEREAS, pursuant to direction from DOF, staff of the Successor Agency has amended five (5) data sheets of the LRPMP, which are attached hereto as Exhibit A, to provide clarification and corrections to properties 13, 14, 16, 17 and 18 on the LRPMP ("Data Sheets"), including clarification that properties 726 N. Dalton Avenue and 728 N. Dalton Avenue shall be classified as governmental purpose properties for use as public parking facilities, and properties 714 N. Dalton Avenue, 716 N. Dalton Avenue, and 720 N. Dalton Avenue are to be sold in a manner designed to maximize value; and WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred. NOW, THEREFORE, THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF AZUSA, DOES HEREBY RESOLVE AS FOLLOWS: Section 1. Recitals. The Recitals set forth above are true and correct and are incorporated into this Resolution by this reference. Section 2. CEOA Compliance. The approval of the Data Sheets through this Resolution does not commit the Oversight Board to any action that may have a significant effect on the environment. As a result, such action does not constitute a project subject to the requirements of the California Environmental Quality Act. The City Clerk is authorized and directed to file a Notice of Exemption with the appropriate official of the County of Los Angeles, California, within five (5) days following the date of adoption of this Resolution. Section 3. Approval of the Data Sheets. The Oversight Board hereby approves the Data Sheets in substantially the form attached to this Resolution as Exhibit A. Section 4. Approval of Designation of Governmental Purpose Properties. The Oversight Board further approves and finds that the properties designated as governmental purpose properties in the LRPMP are properly designated for this purpose, and that the governmental purpose properties designated as parking facilities or lots are dedicated to public parking and do not generate revenues in excess of the reasonable maintenance costs of those properties in accordance with Health and Safety Code Section 34181(a)(2). Section 5. Further Acts. the Oversight Board hereby authorizes and directs the Successor Agency to take any action necessary to carry out the purposes of this Resolution and comply with applicable law regarding the LRPMP, including without limitation inclusion of the Data Sheets into the LRPMP previously approved by the Successor Agency and Oversight Board, and submittal of the LRPMP, as updated with the Data Sheets, to DOF. Section 6. Severability. If any provision of this Resolution or the application of any such provision to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution that can be given effect without the invalid provision or application, and to this end the provisions of this Resolution are severable. The Oversight Board declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion of this Resolution. Section 7. Effective Date. This Resolution shall become effective immediately upon its adoption. APPROVED AND ADOPTED THIS 9h day of December, 2015. Robert Gonzales, Chairperson Oversight Board Successor Agency to the Former Redevelopment Agency of the City of Azusa ATTEST: oavc 2 J fr ence Cornejq, Jr., cret y Oversight Board Successor Agency to the Former Redevelopment Agency of the City of Azusa I HEREBY CERTIFY that the foregoing Resolution No. OB -20-15 was duly adopted by the Board Members of the Oversight Board of the City of Azusa at a special meeting thereof on the 91h day of December, 2015, by the following vote of Board Members: AYES: BOARD MEMBERS: BARBOSA, DICKERSON, PARAGAS, GONZALES NOES: BOARD MEMBERS: NONE ABSENT: BOARD MEMBERS: ROMERO, HERNANDEZ J fe L nce Cornejq, Jr., cre y Oversight Board Successor Agency to the Former Redevelopment Agency of the City of Azusa EXHIBIT A DATA SHEETS FOR PROPERTIES 13, 14, 16, 17 & 18 (Attached behind this cover page) City of Azusa Successor Agency Revised Long Range Property Management Plan VICINITY MAP INDEX AND SUMMARY OF RECOMMENDATIONS Version 4 -Revised December 2, 2015 Assessor Estimated Map Parcel Market Ref Number Address Value Recommended Disposition 8605-019-906 1 8605-019-907 975 W. Foothill Blvd.- DClub $1,400,000 Sell on the open market. 2 8611-014-900 No Situs Azusa Ave. 8 5 St. $288,000 Sell on the open market. Retain by the City of Azusa for governmental use as transit 3 8605-015-907 943 N. Vernon Ave. Transit Yard $0 vehicle storage lot. 4 8608-027-905 805 N. Dalton Ave. Moritz $195,000 Sell on the open market. 5 8608-027-906 803 N. Dalton Ave. Ramirez $169,000 Sell on the open market. 6 8608-025-902 826 N. Azusa Ave. Habern $144,000 Sell on the open market. 7 8608-027-907 810 N. Alameda Ave. $563,000 Sell on the open market. 8 8608-025-907 858 N. Azusa Ave. Choi $429 500 Sell on the open market. 8608-025-909 9 8608-025-910 832 N Azusa Ave. Va enas $216,000 Sell on the open market. 10 8608-025-908 830 N. Azusa Ave. Matson $72,000 Sell on the open market. 11 8608-027-908 809 N. Dalton Ave. O'Br ant $288,000 Sell on the open market. 8608-025-903 No Situs 8608-025-904 No Situs 8608-025-905 801 N. Alameda Ave. Retain by the City of Azusa for governmental use as a park - 12 8608-025-906 812 N. Azusa Ave. $0 and -ride facility for the MTA Gold Line Station. 1403 N San Gabriel Cyn. Rd. Retain by the City of Azusa for governmental use as a 13 8684-019-900 (Cunningham) $0 landscaped street median. 8680-028-910 8680-028-901 8680-028-903 8680-028-904 No Situs (Senior Citizens Center Parking Retain by the City of Azusa for governmental use as parking 14 8680-028-908 Lot) $0 for Azusa Senior Citizens Center. Transfer to City to fulfill City's obligation under DDA with Charvet Family LLC. If Charvet does not exercise its purchase option by June 6, 2016, the property should be transferred back to the Successor Agency for sale on the 17511 E. Arrow Hwy. (Fowler/ELS open market and the proceeds remitted to County Auditor - 15 1 8621-024-905 Option) $203,000 Controller for distribution to taxing entities. Version 4 -Revised December 2, 2015 °F W cg4F'ot✓P zus City of Azusa Successor Agency Revised Long Range Property Management Plan VICINITY MAP INDEX AND SUMMARY OF RECOMMENDATIONS Version 4 - Revised December 2, 2015 Assessor Estimated Map Parcel Market Ref Number Address Value Recommended Disposition 8608-029-909 728 N. Dalton Ave. 8608-029-908 726 N. Dalton Ave. Retain APN's 8608-029-909 and 8608-029-908 by the City of 8608-029-907 720 N. Dalton Ave. Azusa for governmental use as parking for Azusa Senior 8608-029-906 716 N. Dalton Ave. Center, Sell APN's 8608-029-907, 8608-029-906, 8608-029- 16 8608-029-904 714 N. Dalton Ave. $463,050 904 on the open market. 17 8608-029-910 303 E. Foothill Blvd. Zerbe $463,029 Sell on the open market. Retain by the City of Azusa for governmental use as parking 18 8611-003-921 No Situs Block 36 $0 for Downtown businesses. Retain by the City of Azusa for governmental use as parking 19 1 8611-004-906 1 600 N. San Gabriel Ave. Gallant $0 for Downtown businesses. Retain by the City of Azusa for governmental use as parking 20 8611-004-907 604 N. San Gabriel Ave. Arenas $0 for Downtown businesses. 8611-004-912 Retain by the City of Azusa for governmental use as parking 21 8611-004-913 622 N. San Gabriel Ave. Miller $0 for Downtown businesses. 22 1 8611-004-914 624-630 N. San Gabriel Ave. $1,600,000 Sell on the open market. Total Estimated Current Value $6,493,579 Version 4 - Revised December 2, 2015 City of Azusa Successor Agency Long Range Property Management Plan Page 1 of 2 Q _�N o Background information • Map Reference 13 • Address 1403 N. San Gabriel Canyon Road • Assessor Parcel Number(s) 8684-019-900 • Current Zoning Neighborhood Center Subzone (NC) of Neighborhood General (NG3) • Lot Size 16,053 sf • Current Use Landscaped median island with pedestrian access • Original Seller William Cunningham, Benjamin Cunningham, Elizabeth Norman in 1987, Barr Vail, Inc. in 2001 • Value of Property at Time of Acquisition The acquisition of property from Barr Vall Inc. in 2001 was for $170,000. Other Agency acquisition files for the Cunningham acquisition could not be found after a diligent search. A title report _ was also ordered which failed to yield the information required. • Acquisition Date August23, 1987 (Cunningham), December 17, 2001 (Barr Vail, Inc) • Property History/Purpose for Acquisition The landscaped median on North Son Gabriel Canyon Road originally consisted of two parcels that were acquired at different times by the Redevelopment Agency and subsequently consolidated. After o diligent search, the Agency staff was unable to locate the files far this property in order to determine the size of the two original parcels, the acquisition price for the Cunningham parcel, the Agency's original intent for acquiring the parcels, or any developer proposals for this site. Estimate of Current Property Value Fair Market Value Assessment The property will be in public use as a pedestrian -accessible landscaped median. No income will be derived from the site to either the City or the Successor Agency. The property therefore has no commercial market value. Estimated Current Value This parcel has no commercial market value because it is to be retained for governmental use as a pedestrian -accessible landscaped median island. City of Azusa Successor Agency Long Range Property Management Plan Address: 1403 N. San Gabriel Canyon Road Page 2 of 2 Agency Revenue Is Agency receiving lease or rental income for the ❑ private use of the property? Yes No X • If Yes, indicate amount of Agency's annual $ - rent/lease income • If Yes, describe essential contract provisions (i.e., renter/lessee, term, rent calculations, restrictions/obligations, etc.) Environmental Have any environmental tests or assessments been performed on the property? Yes No X • If Yes, describe the work performed and dates (i.e. Phase 1, Phase 2, borings, etc.). • If Yes, describe the current environmental condition of the site Has the property been designated as a "Brownfield" - site? Yes No X • If No, would the property qualify for such a Brownfield designation? Yes NoUnknown X None. Describe any remediation work performed on the property. Previous Development Proposals Describe any previously proposed or solicited Since this parcel has been designated as a landscaped median, no development plans for the property, including any development proposals have been solicited or accepted. short-term and/or long-term lease/rental arrangements. Reuse Assessment and Recommended Action • Describe the property's potential for transit- Not applicable. oriented development. • Describe the reuse potential of the property in Current land use is for a pedestrian-accessible landscaped median terms of advancing the Successor Agency's island between the north and southbound lanes of San Gabriel planning objectives. Canyon Road, consistent with the General Plon's Urban Form and Mobility goals. Recommended Action: The Successor Agency to the Azusa Redevelopment Agency has determined that this parcel should be retained by the City for governmental use as a pedestrian-accessible landscaped median. ' City of Azusa Successor Agency Long Range Property Management Plan Page 1 of 2 Background Information • Map Reference 14 • Address No Addresses (Senior Citizens Center Parking) • Assessor Parcel Number(s) 8608-028-910, 901, 903, 904, 908 • Current Zoning Downtown Civic Center District (DCC) • Lot Size 42, 636sf (combined) • Current Use Public parking lot far Azusa Senior Citizens Center • Original Seller APN 8608-028-910, 901, 903, and 904 quit -claimed by the City of Azusa to the Redevelopment Agency on March 20, 2008. APN 8608- 028-908 purchased from the LA -Pasadena Blue Line Construction Authority on lune 6, 2008. • Value of Property at Time of Acquisition $929,970 (based on Finance Dept. General Ledger) • Acquisition Date (See discussion above under Original Seller) • Property History/Purpose for Acquisition Over the years, the RDA explored several development proposals for the Downtown North area including possible transit - oriented projects in conjunction with the new Metro Gold Line light-rail station serving Azusa. In order to accommodate this potential development the City Council authorized the execution of quitclaim deeds conveying several parcels of City - owned property along Dolton Avenue to the RDA. Due to the dissolution of the RDA, these properties were never ' developed. Because four of these parcels were originally purchased by the City with City funds, they should be transferred back to the City, along with APN 8608-018-908, for their continued governmental purpose as a public parking lot for the City's Senior Citizens Center. Estimate of Current Property Value Fair Market Value Assessment The property will be in public use as parking for the Azusa Senior Citizen's Center. No income will be derived from the site to either the City or the Successor Agency. The property therefore has no commercial market value. Estimated Current Value This parcel has no commercial market value because it is to be retained for governmental use as parking for the Azusa Senior Citizen's Center. The parcel itself is zoned for Downtown Civic Center District (DCC). City of Azusa Successor Agency Long Range Property Management Plan Address: No Addresses (Senior Citizens Center Parking) Page 2 of 2 Agency Revenue Is Agency receiving lease o'rental income for the - private use of the property. yes ❑ No • If Yes, indicate amount of Agency's annual $ rent/lease income • If Yes, describe essential contract provisions (i.e., renter/lessee, term, rent calculations, restrictions/obligations, etc.) Environmental Have any environmental tests or assessments been Yes performed on the property? No x • If Yes, describe the work performed and dates (i.e. Phase 1, Phase 2, borings, etc.). • if Yes, describe the current environmental condition of the site Has the property been designated as a "Brownfield" site? Yes No x • If No, would the property qualify for such a Brownfield designation? Yes No Unknown x No. Describe any remediation work performed on the property. Previous Development Proposals Describe any previously proposed or solicited These parcels were part of the larger Downtown North development plans for the property, including any Redevelopment Project. Over the years, the Azusa Redevelopment short-term and/or long-term lease/rental Agency engaged in several developer solicitations to explore passible arrangements. commercial/retail/residential projects in conjunction with the construction of a regional light rail system station in the Downtown area. Reuse Assessment and Recommended Action • Describe the property's potential for transit- Not applicable. oriented development. • Describe the reuse potential of the property in Current land use is far a Senior Citizens Center parking lot which is terms of advancing the Successor Agency's consistent with the General Plan's Downtown Civic Center District planning objectives. (DCC) designation for this site. • Recommended Action: The Successor Agency to the Azusa Redevelopment Agency has determined that these parcels should be retained for governmental use as a public facility (Senior Citizens Center parking). The parcels should be retained by the City of Azusa. Pursuant to NSC 34191.3 property that is used for a parking lot that generates no more revenue than reasonably necessaryfor maintenance may be conveyed to the City as a governmental use property. •- City of Azusa Successor Agency Long Range Property Management Plan Page 1 of 2 'Y- ! ." �) A - Background' Information • Map Reference 16 • Address 714, 716, 720, 726, 728 North Dalton Avenue • Assessor Parcel Number(s) 8608-029-904, 906, 907, 908 and 909 • Current Zoning Downtown Civic Center District (DCC) • lot Size 37,500 sf • Current Use Public parking lot far Azusa Senior Citizens Center • Original Seller All parcels purchased by City of Azusa between July 1988 and October 2005. All parcels quit -claimed by the City to the Redevelopment Agency on February 5, 2008 (quitclaimed back to City on March 30, 2011). • Value of Property at Time of Acquisition $1,508,812 (based on Finance Dept. General Ledger) • Acquisition Date (See discussion above under Original Seller) • Property History/Purpose for Acquisition Since 1988, the City has acquired property on North Dalton Avenue, north of Foothill Boulevard, for the purpose of relocating and expanding the City's public library. These include the five subject parcels. Over the years, the RDA explored several development proposals for the Downtown North area including possible transit - oriented projects in conjunction with the new Metro Gold Line light-rail station serving Azusa. In order to accommodate this potential development, the City Council authorized the execution of quitclaim deeds conveying several parcels of City - owned property along Dalton Avenue to the RDA. Due to the dissolution of the RDA, these properties were never developed. Estimate of Current Property Value Fair Market Value Assessment Both 726 and 728 N. Dalton will be in public use as parking for the Azusa Senior Citizen's Center. No income will be derived from the site to either the City or the Successor Agency. These parcels therefore have no commercial market value. Based on a survey of vacant commercial property values in areas proximate to Azusa, it is estimated that 714, 716 and 720 N. Dalton parcels could collectively sell for approximately $20.58 per square foot. Estimated Current Value The parcels at 716 and 728 N. Dalton have no commercial market value because they are to be retained for governmental use as parking for the Azusa Senior Citizen's Center. The collective area of the 714, 716 and 720 N. Dalton parcels total 22,500 square feet. At $20.58 per square foot, the parcel has on estimated value of $463,050. City of Azusa Successor Agency Long Range Property Management Plan Address: 714, 716, 720, 726, 728 North Dalton Avenue Page 2 of 2 Agency Revenue Is Agency receiving lease or rental income for the private use of the property? Yes ❑ No • If Yes, indicate amount of Agency's annual 5 rent/lease income • If Yes, describe essential contract provisions (i.e., renter/lessee, term, rent calculations, restrictions/obligations, etc.) Environmental Have any environmental tests or assessments been performed on the property? Yes ElNo • If Yes, describe the work performed and dates (i.e. Phase 1, Phase 2, borings, etc.). • If Yes, describe the current environmental condition of the site Has the property been designated as a "Brownfield" Yes ❑4solicitation5 site? x❑If No, would the property qualify for such aYes Brownfield designation?❑x Unknown ❑Describe any remediation work performed on the None. property. Previous Development Proposals Describe any previously proposed or solicited These parcels were pr Downtown Northdevelopment plans for the property, including any Redevelopment Projears, the Azusa Redevelopmentshort-term and/or long-term lease/rental Agency engaged in seersolicitations to explore possiblearrangements. commercial/retail/rects in conjunction with the construction of a regional light rail system station in the Downtown area. Reuse Assessment and Recommended Action • Describe the property's potential for transit- Not applicable. oriented development. • Describe the reuse potential of the property in Current land use is fora Senior Citizens Center parking lot which is terms of advancing the Successor Agency's consistent with the General Plan's Downtown Civic Center District planning objectives. (DCC) designation for this site. The use of the parcels at 714, 716 and 720 N. Dalton Ave. for mixed use commercial/retail/residential development is also consistent with the General Plan's Downtown Civic Center District (DCC) designation. • Recommended Action: The Successor Agency to the Azusa Redevelopment Agency has determined that 726 and 728 N. Dalton Ave. should be retained by the City for governmental use as a public facility (Senior Citizens Center parking). Pursuant to HSC 34191.4 property that is used fora parking tot that generates no more revenue than reasonably necessaryfar maintenance may be conveyed to the City as a governmental use property. For the parcels of 714, 716 and 720 N. Dalton Ave., transfer to the City for future development and to the extent required by law at the time of sale the City will enter into a compensation agreement with the effected taxing entities. Per HSC 34181(0) (I), the disposal of the parcels shall be done expeditiously and in a manner aimed at maximizing value. City of Azusa Successor Agency Long Range Property Management Plan Page 1 of 2 f 1 _ ` J Background Information • Map Reference 17 • Address 303 E. Foothill Boulevard • Assessor Parcel Number(s) 8608-029-910, • Current Zoning Downtown Civic Center District (DCCT • Lot Size 21,499 sf • Current Use Vacant lot/Public parking • Original Seller Robert & Ina Zerbe, Melvin & Beverly PJper.Trust Bonnie Boelens Trust, Gary Reiter • Value of Property at Time of Acquisition $648,888 • Acquisition Date May 22, 2007 • Property History/Purpose for Acquisition Since 1988, the City has acquired property on North Dalton Avenue, north of Foothill Boulevard, for the purpose of relocating and expanding the City's public library. The City originally intended to acquire the subject parcel as well, but transferred its rights to the RDA which acquired it in Moy 1007. Over the years, the RDA explored several development proposals for the Downtown North area including possible transit - oriented projects in conjunction with the new Metro Gold line light-rail station serving Azusa. In order to accommodate this potential development, the City Council authorized the execution of quitclaim deeds conveying several parcels of City - owned property along Dalton Avenue to the RDA. Due to the dissolution of the RDA, these properties were never developed. Estimate of Current Property Value Fair Market Value Assessment Based on a survey of vacant commercial property values in areas proximate to Azusa, it is estimated that the parcel could sell for approximately $20.58 per square foot. Estimated Current Value The area of the subject parcel totals 22,499 square feet. At $20.58 per square foot the parcel has an estimated value of $463,029. City of Azusa Successor Agency Long Range Property Management Plan Address: 303 E. Foothill Boulevard Page 2 of 2 Agency Revenue Is Agency receiving lease o'rentaI income for the private use of the property. yes E-1 No • If Yes, indicate amount of Agency's annual $ rent/lease income • If Yes, describe essential contract provisions (i.e., renter/lessee, term, rent calculations, restrictions/obligations, etc.) Environmental Have any environmental tests or assessments been performed on the property? Yes No X Both Phase 1 an ase 11 environmental assessments have been • If Yes, describe the work performed and dates (i.e. Phase 1, Phase 2, borings, etc.). performed (April/May 2007). • If Yes, describe the current environmental No hazardous conditions identified, condition of the site Has the property been designated as a "Brownfield" site? Yes No x • If No, would the property qualify for such a Brownfield designation? yes No Unknown x Removal of un erground storage tank. Describe any remediation work performed on the property. Previous Development Proposals Describe any previously proposed or solicited This parcel was part of the larger Downtown North Redevelopment development plans for the property, including any Project. Over the years, the Azusa Redevelopment Agency engaged short-term and/or long-term lease/rental in several developer solicitations to explore possible arrangements. commercial/retail/residential projects in conjunction with the construction of a regional light rail system station at this location. Reuse Assessment and Recommended Action • Describe the property s potential for transit- This parcel was originally intended to facilitate the relocation and oriented development. expansion of the City's public library. Later, it was envisioned that it would be incorporated into the Downtown North Redevelopment Project which included a light rail system linkage. • Describe the reuse potential of the property in The use of this parcel far mixed use commercial/retail/residential terms of advancing the Successor Agency's development is consistent with the General Plan's Downtown Civic planning objectives. Center District (DCC) designation for this site. Recommended Action: The Successor Agency to the Azusa Redevelopment Agency has determined that this parcel should be transferred to the City for future development and to the extent required by law at the time of safe the City will enter into a compensation agreement with the effected taxing entities. Per HSC 34181(x) (1), disposal of this parcel shall be done expeditiously and in a manner aimed at maximizing value. ' City of Azusa Successor Agency Long Range Property Management Plan Page 1 of 2 _ � J Background Information • Map Reference 18 • Address No Situs (Block 36) • Assessor Parcel Number(s) 8611-003-921 • Current Zoning Downtown — Town Center (I • Lot Size _97 574 sf (2.24 acres) • Current Use Public parking • Original Seller Various (see discussion below regarding Property History) • Value of Property at Time of Acquisition $3,324,366 (based on Finance Dept. General Ledger) • Acquisition Date Various (see discussion below regarding Property History) • Property History/Purpose for Acquisition i In 2003, the Azusa Redevelopment Agency began acquiring 12 parcels from 11 different property owners in the area on Azusa Avenue between 6th Street and Foothill Boulevard identified as Block 36. The parcels were later consolidated in order to facilitate potential commercial/retail development. The RDA entered into Disposition and Development Agreement with Lowe Enterprises during fiscal year 2006-07 for a mixed-use retail and housing development. Lowe was ultimately unable to move forward with the development plan for this area. The Redevelopment Agency also entered into o long-term enforceable obligation with the adjacent Bonk of Americo for use of o portion of this site far bank parking. Estimate of Current Property Value Fair Market Value Assessment The property will be in public use as parking for Downtown Azusa businesses. No income will be d:dh, site to either the City or the Successor Agency. The property therefore has no commercial market value. Estimated Current Value These parcels have no commercial market value because they are to be retafned for governmentg for theAzusa Downtown businesses. The parcel itself is zonedfor Downtown —Town Center (DTC). City of Azusa Successor Agency Long Range Property Management Plan Address: No Address (Block 36) Page 2 of 2 Agency Revenue Is Agency receiving lease oriental income for the private use of the property. Yes ❑ No El • If Yes, indicate amount of Agency's annual " $ rent/lease income • If Yes, describe essential contract provisions (i.e., renter/lessee, term, rent calculations, restrictions/obligations, etc.) Environmental Have any environmental tests or assessments been performed on the property. YesEJNo EJ • If Yes, describe the work performed and dates (i.e. Phase 1, Phase 2, borings, etc.). • If Yes, describe the current environmental condition of the site Has the property been designated as a "Brownfield" Yes ❑ No ❑x site? • If No, would the property qualify for such a Yes ❑ No Unknown ❑ EL Brownfield designation? Describe any remediation work performed on the property. Previous Development Proposals Describe any previously proposed or solicited The RDA entered into Disposition and Development Agreement with development plans for the property, including any Lowe Enterprises during fiscal year 2006-07for a mixed-use retail short-term and/or long-term lease/rental and housing development. Lowe was ultimately unable to move arrangements. forward with the development plan for this area. A portion of this site is also subject to a long-term enforceable obligation with the adjacent Bank of America for use as bank parking. Reuse Assessment and Recommended Action • Describe the property's potential for transit- Not applicable. oriented development. • Describe the reuse potential of the property in Current land use is forAzusa Downtown public parking which is terms of advancing the Successor Agency's consistent with the General Plan's Downtown — Town Center (DTQ planning objectives. designation for this site. • Recommended Action: The Successor Agency to the Azusa Redevelopment Agency has determined that this parcel should be retained for governmental use as a public facility (Azusa Downtown parking). The parcels should be retained by the City of Azusa. Pursuant to HSC 34191.3 property that is used for a parking lot that generates no more revenue than reasonably necessaryfor maintenance may be conveyed to the City as a governmental use property.