HomeMy WebLinkAboutResolution No. 84390
RESOLUTION NO. 8439
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF AZUSA
ESTABLISHING THE AMOUNT OF JUST COMPENSATION FOR
PROPERTY LOCATED AT 714 NORTH DALTON AVENUE AND
AUTHORIZING THE USE OF PROPOSITION A FUNDS FOR
ACQUISITION
WHEREAS, the acquisition of the property located at 714 North
Dalton Avenue is necessary for bus parking and future expansion
of the Civic Center, and
WHEREAS, an independent appraiser has prepared a letter opinion
estimate of value, which serves as a basis for determining the
Amount of Just Compensation; and
WHEREAS, the property located at 714 North Dalton Avenue, owned
by Edward Seidner, 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 was
established at $136,000; and
WHEREAS, the owner and City have negotiated a purchase price
acceptable to both parties based upon a number of circumstances:
NOW, THEREFORE, the City Council of the City of Azusa does hereby
resolve as follows:
SECTION 1. That the amount of Just Compensation for
714 North Dalton Avenue is $136,000.
SECTION 2. That the expenditure of $156,000 of
Proposition A Funds for acquisition and improvements is hereby
authorized.
SECTION 3. That the expenditure of $14,000 from the
Light and Water Department budget for acquisition is hereby
authorized.
SECTION 4. The Mayor is authorized to execute all
purchase agreements and documents on behalf of the
City Council.
SECTION 5. The City Clerk shall certify the adoption of
this resolution.
ADOPTED AND APPROVED THIS 20th day of June, 1988.
7 � 4
MAYOR
I HEREBY CERTIFY that the foregoing Resolution was duly
adopted by the City Council of the City of Azusa at a regular
meeting thereof on the 20th day of June, 1988, by the following
vote of the Council:
AYES: COUNCILMEMBERS: AVILA, STEMR.ICH, NARANJO, LATTA, MOSES
NOES: COUNCILMEMBERS: NONE
ABS T. COUNCILMEMBERS: NONE
C Y CLERK