HomeMy WebLinkAboutF-11 - Acquisition of 203 41st Street•
•
TO: CITY COUNCIL
NOV 22 1982
gy 1W CITY COUNCIL.
CITY OR Nf MACH
FROM: Public Works Department
November 22, 1982
CITY COUNCIL AGENDA
ITEM NO. —i I
SUBJECT: ACQUISITION OF 203 41ST STREET, (LOT 13 AND THE NORTHEASTERLY 3.5.7
.FEET OF LOT 14, BLOCK 141, CANAL SECTION) A.P. #045-235-08
RECOMMENDATION:
1. Authorize the purchase of 203 41st Street for $165,000•
2. Authorize the acceptance of a grant deed for 203 41st Street
from Daniel C. and Patricia A. Castronova.
DISCUSSION:
On August 9, 1982, the Council -reviewed a letter from Daniel C.
Castronova, M. D. offering to sell his property at 203 41st Street for $175,000.
(copy attached) The staff was authorized to determine the value of the property.
A review of property sales in the area over the last year has been made
with the assistance of an appraiser. It was concluded that the value of 203
41st Street is $165,000. This takes into consideration an all -cash transaction by
the City. Mr. Castronova has lowered his offer to $165,000.
It is recommended that the City accept Mr. Castronova`s offer and
purchase 203 41st Street for $165,000. Sufficient funds are available in the
budgeted Gas Tax account for the Acquisition of Right -of -Way for street widening
purposes.
The attached Exhibit shows the Castronova property, as well as the
thirteen parcels that the City has already -acquired for the widening of Balboa Blvd.
The acquistion of this parcel leaves six parcels to be acquired between 33rd Street
and 44th Street.
' A
Benjamin B. Nolan
Public Works Director
DW:rb
Att.
DANIEL C. CASTRONOVA, M.D. b
D.
A PROFESSIONAL CORPORATION ! .
i
22135 Roscoe Blvd. #203
6325 Canoga Park, California 91304 513
(213) 883.3100 J
E1vE� �s 'G
July 21, 1982 -� e�Q�48E�`G�`
[aE`� �01 • j
Mr. Don Webb
City Engineer
3300 Newport Blvd
Newport Beach, California 92663
Dear Mr. Webb.:
Re: Property located at:
203 41st Street
Newport Beach, California
i am the owner of the above stated property. I have recently purchased another
home in Newport Beach located at 1585 Miramar and took posession several days
ago. When I purchased the home. on Miramar, I entered into a 90 day escrow
allowing me what I considered ample time to sell the 41st Street property.
I have since learned that the City of Newport Beach owns perhaps more than
one half of the properties located along my side of Balboa Avenue with future
plans for widening Balboa Avenue. I have also learned that 1 cannot improve
my property due to these plans, therefore surely presenting obstacles in persuit
of a private buyer.
My broker has advised me of his telephone conversation with you on Tuesday,
July 20, 1982 bringing to your attention that my property is for sale and making
it available to the city for purchase.
This letter represents a formal offer by me to sell the property for a price of
$175,000. My broker also advised me that this offer to the City of Newport Beach
does not preclude a sale to another party should that opportunity presents itself.
If the City decides to persue this offer, please contact my broker, should you want to
gain access for appraisal purposes. My broker's name and address is as follows:
The Property Mart, Mr. Ed Caine, 18701 Sherman Way, Reseda, Ca 91335, Tel # (213) 345 0570.
My sincere thanks for any inquiry you may see fit to persue.
Yours ver t uly,
l
Daniel C Castronova M.D.
DCC/lc
4 CITY PROPERTY
��' • _ ,r. 203 34th STREET
CITY PROPERTY
202 8 202� 34th Street
+ City Property �>
MCKELVEY PROPERTY
3404 BALBOA 199d1r BOULEVARD.
As>" i ase�:!fi�•.^ �gxrse�e� rte+a�,.•�'�-�~
i8 M k s.y
.TCiO
?y:y`p` r i b+ = 4 4 b+ q ! 203 35th Street
`Y • 'i'
„w i .� :. ,nlF 4
.. • a
1 t'
' 3510-20 S a +�LlJ•�i�; ' t-, ti
. Balboa Boulevard
I-- W-r-
r grip � a .c��alri � �� - . J7 •�, cc �
v�cis --ri-.. a oc •1 `•
a .� q e• b
a e t s o a � a^ n� •! + i a 13�d1r ! »J •T w w an?F
�
, • 'mil ♦ q
%.• t �. h it
Yr7�T
CITY PROPERTY t .....,•.�
w 1�3p r
205 39th STREET e�
Acquired7.,I5 FT
J 21Fw. I jbmMirLdo1
f
%t
CITY •
RRCJPE,eTY
I
►orP
foxgas
4290 sr.
3,` f
Q CASTRONOVA PROPERTY
`y 203 41st STREET
� � ��,t w1d�d15" ■ e V'In aAF►
of `
•'^ ��..J 06
�'. r •� �• tEL 8
dd
EXtt(Ba �