75N - PH - RESO NECESSITY 2120-2130 S BRISTOL

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2120-2130 S. Bristol Street January 30, 2017 Page 2 If you are not satisfied with the City's offer, you are encouraged to present to us any material you believe to be relevant to the value of the Property Interests, which material will be carefully considered by the City. If, in the City's opinion, the additional information warrants a change in the offer, the City's offer will be adjusted accordingly. If a voluntary agreement cannot be reached, the City may consider formal condemnation proceedings against the property through its power of eminent domain or abandon its intention to acquire the Property Interest, giving proper notice to you in either event. The City has made no decision to exercise its power of eminent domain to acquire the Property Interest and can only do so after it holds a hearing, at which all affected property owners have had an opportunity to appear and be heard. The Purchase Price is the total amount established by the appraisal as the fair market value of the Property Interest and the just compensation for such acquisition. A written statement and a summary of the basis for the amount established as the Purchase Price is set forth in the attached Statement of Just Compensation, identified as Attachment 3. The City of Santa Ana Acquisition Handbook provides that each Owner from whom the City purchases real property or an interest therein, or each tenant owning improvements on said Property, be provided with information relating to the acquisition procedures pursuant to the Government Code, Paragraph 7267.2(a). This information is provided in Attachment 5. Please also be advised that under Code of Civil Procedure Section 1263,025, the City of Santa Ana will reimburse an owner of property, up to the amount of $5,000 for the owner to secure an independent appraisal of property subject to a potential acquisition. Please let us know prior to March 2, 2017 if the City's offer is acceptable. A written agreement concerning the acquisition of the Property Interest will be provided to you for your review and approval. It is the desire of the City to acquire private property interests through voluntary purchase, if possible. While the City has the power of eminent domain, condemnation has not yet been authorized with respect to your property, and no decision has yet been made to use the power of eminent domain to acquire the Property Interests. 2120-2130 S. Bristol Street 75N-6