03/18/1986 - Laserfiche WebLink

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. . . Following the slide presentation, he pointed out that the Disposition and Development Agreement for the Fiesta Marketplace had been executed in August of 1985 and that this project would provide clean, safe and decent retail and theatrical facilities for the community. He added that staff felt that this proposed project would have broad appeal to the community. He stated that in February, 1986, the Agency approved the execution of Owner Participation Agreements which would cover a total of approximately ten buildings. He added that the five properties to be acquired by eminent domain were: 207 East Fourth Street (Assessor owned by Robert C. and Helen Garcia. 213 and 215 East Fourth Street (Assessor 398-327-05) owned by William S. Doddridge. No. 398-327-03) Parcel Parcel No. 214 East Fourth Street (Assessor Parcel owned by John Fainbarg and Meryl Fainbarg. 220 East Fourth Street (Assessor Parcel owned by Raymond S. and Joyce D. Figurski. No. 398-503-04) No. 398-503-06) 302-310 North Spurgeon, 213 East Third Street and 307 N. Bush Street (Assessor Parcel Nos. 398-503-07, 08 and 09) owned by the Dusek Family Trust. The Real Estate Manager stated that the Agency was authorized by the State of California to exercise eminent domain and that, after condemnation actions are completed, these properties will be conveyed to the Fiesta Marketplace Partners for redevelopment purposes and/or developed by the Agency for parking purposes. He added that all of the subject properties are required so that the project will be successful, self-sufficient and self-supporting. He stated that the owners of these five properties had been extended the opportunity to participate and had declined. He added that the Agency had made offers to these owners based upon on fee appraisals and each had declined to accept said offers. He pointed out that staff felt that the Fiesta Marketplace project would be significant and would cause a minimum of private hardship. He added that the Agency would be required to pay just compensation and that all of the businesses would be entitled and extended relocation payments. The Chairman ascertained from the Agency Secretary that there were no written communications. He then stated that the Agency would like to hear from those people who desired to address the Agency on this issue, adding that those who wished to speak should step forward to the podium give their name and address 3.