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January Sq; 2017 <br />Vitale, LLC <br />Attm Bob Adler <br />6625 Zumirez Dr. <br />Malibu, CA 90265 <br />CITY OF SANTA ANA <br />20 civic center Plaza o P.O. Box 1988 <br />Santa Ana, California 927D2 <br />714-047-5013 <br />yymu santa-ana AYq. <br />ACTING CITY MANAGER <br />Gerardo Mouet <br />CITY ATTORNEY <br />Sonia R,'Ga€vathd <br />CLERK Or THE COUNCIL <br />Marie D. War <br />Via Certified Mail <br />SUBJECT: REVISED OFFER TO ACQUIRE PROPERTY AND IMPROVEMENTS PERTAINING TO <br />REALTY AT: 2240 S. E;RisToLSTREET, SANTA ANA, CA 92704 <br />APW 408-471.05 <br />Dear Property Owner, <br />This Offer supersedes all previous Offers to Acquire, <br />The City of Santa Ane ('City') is proceeding with its plans to construct Phase 4 of the Bristol' <br />Street Improvements Project between Warner Avenue and Saint Andrew Place. The City <br />obtained a preliminary title report that lists Aida South, LLC, a limited liability company, as to an <br />undivided % interest; and Vicale, LLC, a limited liability company as to an undivided f interest to <br />be the vested owners of the above-mentioned property as shown in Attachment 4. The City <br />seeks to acquire the :property located at the above-mentioned address, which consists of the <br />underlying real property as described in Attachment 2, The area to be acquired is referred to <br />herein as the "Property". <br />No final determination has been made as to the ownership of the Property, This offer is <br />contingent upon presentation of conclusive evidence of title, if more than one person has an <br />interest in the Property that the. City is seeking to acquire, all parties with such interest must <br />accept this offer, <br />As you know; the City had your Property appraised by certified appraisers for the real estate as <br />well as improvements pertaining to the realty to determine its fair market value The appraisals <br />were conducted in accordance with commonly accepted appraisal standards and included <br />consideration of the highest and best use of the land. Based on the appraisals, the City offers <br />you a total compensation of $2,035,695.00, The Fair Market Value of the Subject Property, which <br />serves as the basis of this offer is attached as Exhibit A. This offer is conditional upon the City <br />Council ratifying this offer by a formal action taken at a regular public meeting authorizing the <br />execution of a Purchase and Sale Agreement or adopting a resolution of Necessity, or both. <br />75L-5 <br />