SA FULL PACKET_2017-10-17 - Laserfiche WebLink

Home Browse Search

Lot Size: Current Zoning: Property Type: Estimated Current Value: Appraisal Completed: Estimated Revenues: Recommended Action: • Purpose of Acquisition EXHIBIT 1 27,830 sq. ft. Specific Development 84 Parking Lot $610,238 (Assessed Value as of 01/01/15) No None Future Development This property was acquired for future development in the Central City Redevelopment Project Area. • Brief History of Previous Development Proposals and Activity A Parking Space Agreement dated May 18, 1993 was entered into between the former RDA and Builders Exchange Associates (`BEA") that assured the future availability of 60 parking spaces on the RDA owned parcel exclusively for the use of BEA and its agents, employees, and invitees. An easement also exists for ingress and egress to provide entry to the parking lot. The former RDA and its successive owners of the property are bound by this agreement to provide the 60 spaces for the benefit of the BEA property and its successive owners. • Description of Contractual Requirements for Disposition of Revenues Generated by Property N/A • History of Environmental Contamination or Remediation Efforts No. • Potential for Transit -Oriented Development IMM • Plan for Use/Disposition The Successor Agency is bound by the original agreement to provide the 60 parking spaces indefinitely for use by the BEA property owner. This obligation is binding on all successive owners of the property per the agreement. The Successor Agency proposes to transfer this property to the City for future development. Per the dissolution laws, compensation agreements with the affected taxing entities will be required as a condition of the transfer of the property to the City. An appraisal will be conducted to determine the appropriate value for inclusion in the compensation agreements. Successor Agency to the former Community Redevelopment Agency of the City of Santa Ana—Long Range Property Management Plan SA4-17