75E - PH - ACQUISITION 2016-2020 W 5TH ST

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ORANGE COUNTY TRANSPORTATION AUTHORITY SUMMARY STATEMENT RELATING TO THE PURCHASE OF REAL PROPERTY OR AN INTEREST THEREIN The Orange County Transportation Authority (OCTA) is proposing to purchase real property or interests therein in connection with the construction of the OC Streetcar Project (Project) and related improvements and appurtenances. Your property located at 2016 - 2020 W. Fifth Street in the City of Santa Ana, is within the Project area and identified by your County Assessor as Parcel No. 007-110-17. The Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 and the California Relocation Assistance and Real Property Acquisition Guidelines require that you, as an owner from whom a public agency proposes to purchase real property or an interest therein or as a tenant owning improvements on the property must be provided with at a minimum, a summary of the appraisal of the real property or interest therein, as well as the following information: 1. You are entitled to receive full payment of the probable amount of just compensation prior to vacating the real property being acquired unless you have heretofore waived such entitlement. In the event of any voluntary purchase or sale of the property or interests, you would not be required to pay recording fees, transfer taxes, or the pro rata portion of real property taxes allocable to any period following the passage of title or possession. 2. The OCTA will offer to purchase any remnant(s), if any, considered by the OCTA to be an uneconomic unit(s) which is/are owned by you or, if applicable, occupied by you as a tenant and which is/are contiguous to the land being conveyed. 3. All buildings, structures and other improvements affixed to the land described in the referenced document(s) covering this transaction, and which are owned by you as the owner or, if applicable, owned by you as a tenant, are being conveyed unless other disposition of these improvements has been made. The real property interest proposed to be acquired is: Fee Simple — Full Acquisition. The property being purchased is comprised of 23,441 square feet and is described and depicted in the attached legal and plat. 4. The market value of the property proposed to be acquired is based upon a market value appraisal which is summarized on the attached Valuation Summary Statement, and such amount: A. Represents the full amount of the appraisal of just compensation for the property proposed to be purchased; B. Is not less than the approved appraisal of the fair -market value of the property as improved; C. Disregards any decrease or increase in the fair market value of the real property proposed to be acquired prior to the date of valuation which might be caused by the Project itself or by the likelihood that the property would be acquired for or in connection with the Project, other than that due to physical deterioration within the reasonable control of the owner or occupant; and D. Does not reflect any consideration of or allowance for any relocation assistance and payments or other benefits which the owner is entitled to receive under an agreement with the OCTA. 5. Pursuant to Code of Civil Procedure Section 1263.025 should you elect to obtain an independent appraisal, the OCTA will pay for the actual reasonable costs up to Five Thousand ($5,000) Dollars subject to the following conditions: A. You, not the OCTA, must order the appraisal. Should you enter into a contract with the selected appraiser, the OCTA will not be a party to the contract; B. The selected appraiser is licensed with the California Bureau of Real Estate Appraisers (BREA); 75E-22