HomeMy WebLinkAboutF-15 - Acquisition of 203 33rd Street•
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TO CITY COUNCIL
FROM: Public Works Department
BY THE CITY COUNCM
CITY OF NEWPORT BEACH
APR 22 ic,%
APPROVED
SUBJECT: ACQUISITION OF 203 33RD STREET - (A.P. 423-352-12)
RECOMMENDATIONS:
April 22, 1985
CITY COUNCIL AGENDA
ITEM NO. F-I
1. Authorize the purchase of 2.03 33rd Street for $255,000.
2. Authorize the acceptance of a grant deed for 203 33rd Street
from George B. Craig and Helen L. Craig.; and Randolph L.
Eidemiller and Jean E. Eidemiller.
DISCUSSION:
On November 28, 1983, the City Council certified the Final EIR and
directed staff to apply for AHFP funding necessary to acquire right of way
to widen Balboa Boulevard from 33rd Street to 44th Street. Implementation
of the project requires the acquisition of six parcels. The current schedule
calls for the purchase of the six parcels over a two-year period followed -by
a one-year construction period.
Since the acquisition encompasses a two-year fiscal period, City
staff, in consultation with the property owners, established'a priority list
in purchasing the parcels. The subject property is the first of six to be
acquired.
Mr. George Hamilton Jones, MAI, was retained to appraise all six
properties.. He completed the appraisal on November 20, 1984, and concluded
that the fair market value of the subject parcel was $255,000 as of
September 5, 1984. Mr. Eidemiller, on behalf of all partners, accepted the
City's offer of $255,000, contingent upon City Council approval.
The property at 203 33rd Street is 25' wide by 95' deep and is on
the northeasterly corner of 33rd Street and Balboa Boulevard. The structure
is a 2,3.75-square-foot, two-story, good -quality duplex. Both apartments are
currently rented on a monthly basis for a total of $1,425 per month. The
tenants have occupied the dwellings over 90 days, making them eligible for
relocation benefits if they move from the property at the City`s request.
These benefits could be as much as $4,.00.0 plus moving expenses for each.unit.
Page 2
Subj: Acquisition of 203 33rd Street - (A.P. 423-352-12)
April 22, 1985
It is recommended that the City purchase 203 33rd Street for the
appraised fair market value of $255,000. Sufficient funds have been budgeted
using 50% Gas Tax monies and 50% AHFP funding for the acquisition of parcels
along Balboa Boulevard.
The attached Exhibit A shows the subject property, as well as the
thirteen parcels that the City has already acquired for the widening of
Balboa Boulevard. The acquisition of this parcel leaves five parcels to be
acquired between 33rd Street and 44th Street.
C /
s
Benjamin B. Dolan
Public Works Department
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