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Appropriation Adjustment and Purchase and Sale Agreement for portion of City -Owned Property <br />at 2501 North Flower Street <br />May 21, 2019 <br />Page 2 <br />Based on City Council discussion during the Closed Session portion of the meeting on June 5, <br />2018, staff subsequently obtained an opinion of value which considers the property's lack of <br />independent accessibility and development potential, as well as its limited or non-existent <br />marketability. The $4,000 compensation is consistent with the opinion of value. <br />Pursuant to Section 2-706.1 of the Santa Ana Municipal Code, staff therefore recommends a lot <br />line adjustment to effectively transfer a 4,283 -square -foot portion of City property to Mr. and Mrs. <br />Andres for a payment of $4,000. A 10 -foot -wide easement will be reserved by the City to access, <br />inspect, maintain, and improve the retaining wall near the new boundary line. The engineering <br />costs associated with the mapping and documentation was paid by Mr. and Mrs. Andres for this <br />Lot Line Adjustment (Exhibit 3). Following recordation of the Lot Line Adjustment, a grant deed <br />(Exhibit 4) must be recorded to complete the process as required by state statute (Subdivision <br />Map Act). A Purchase and Sale Agreement between the parties memorializes the transaction and <br />ties together the Lot Line adjustment, the Grant Deed, the retaining wall easement reservation, <br />and the purchase price (Exhibit 5). <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #6 — Community Facilities & <br />Infrastructure, Objective #1 (establish and maintain a Community Investment Plan for all City <br />assets). <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. <br />FISCAL IMPACT <br />Proceeds in the amount of $4,000 from the sale of land at 2501 North Flower Street will be <br />received into the General Fund Sale of Land Revenue account (No. 01102002-57071). <br />Executive Director <br />Public Woks Agency <br />FSSMG/TH <br />Exhibits: 1. Aerial Map <br />2. Field Pictures <br />3. Lot Line Adjustment Exhibits <br />4. Grant Deed <br />5. Purchase and Sale Agreement <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />46� <br />Kathryn Downs, CPA <br />Executive Director <br />Finance and Management Services Agency <br />25A-2 <br />