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MAYOR <br />January 31, 2017 <br />Antranik Ozbag Zorayan <br />1831 W. Lincoln Avenue <br />Anaheim, CA 92801 <br />CITY OF SANTA ANA <br />20 Civic Center Plaza e P.O. Box 1988 <br />Santa Ana, California 92742 <br />714-W,5Q13 <br />im .santa-ana org <br />ACTING -CITY MANAGER <br />Gera[dz, Mouat. <br />OITYATTORNEY <br />Sonia R Catvall b <br />CLERK SOF THE COUNCIL <br />Marla A. Huizar <br />Via Certified Mail <br />SUBJECT: REVISED OFFER TO ACQUIRE PROPERTY AND IMPROVEMENTS <br />PERTAINING TO REALTY AT: 2231 & BRISTOL STREET, SANTA ANA, CA 92704 <br />APNt 015-194-36 <br />Dear Property Owner, <br />This Offer supersedes all previous Offers to Acquire, <br />The City of Santa Ana ('City") is proceeding with its plans to construct Phase IV of the <br />Bristol Street Improvements Project between Warner Avenue and Saint Andrew Place. <br />The City obtained a preliminary title report that lists Antranik Ozbag Zorayan, as trustee <br />of the Zorayan Family Trust dated December 18, 2000 to be the vested owner of the <br />above-mentioned property as shown in Attachment 1, The City seeks to acquire the <br />property located at the above-mentioned address, which consists of the underlying real <br />property as described in Attachment 2. The area to be acquired is referred to herein as <br />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 <br />has an interest in the Property that the City is seeking to acquire, all parties with such <br />interest must accept this offer. <br />As you know, the City had your Property appraised by certified appraisers for the real <br />estate as well as improvements pertaining to the realty to determine its fair market <br />value. The appraisals were conducted in accordance with commonly accepted <br />appraisal standards and included consideration of the highest and best use of the land, <br />Based on the appraisals, the City offers you a total compensation of $627,075.40. The <br />Fair Market Value of the Subject Property, which serves as the basis for this offer is <br />attached as Exhibit A, This offer is conditional upon the City Council ratifying this offer <br />by a formal action taken at a regular public meeting authorizing the execution of -a <br />Purchase and Sale Agreement or adopting a Resolution of Necessity, or both. <br />75Q-4 <br />