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HomeMy WebLinkAboutSS8 - Beacon Bay PropertyCITY OF NEWPORT BEACH OFFICE OF THE CITY MANAGER May 18, 1970 SS Item TO: MAYOR AND CITY COUNCIL FROM: City Manager SUBJECT: BEACON BAY PROPERTY In January the attached preliminary analysis of alternatives avail- able to the City with respect to the future use of the City -owned Beacon Bay property was received from the firm of Development Research Associates and forwarded to the City Council for information purposes. Partially as a re- sult of the Balboa Bay Club election held during the preceding week, this matter was never formally reviewed at any Study Session or regular Council meeting subsequent to the submittal of the report. Development Research Associates was advised in writing in January not to spend any more time on this project until given further notice from the City, Approximately $1,900 of a $5,000 appropriation had been paid to DRA up to that point and completion of the study has been held in abeyance until such time as the City Council expressed itself to desire a more thorough documentation of the long-range alternatives relative to the use or disposition of the property. You will note that the preliminary documentation of alterna- tives includes a recommendation on Page Five of the report that the City retain the services of an appraiser to document the current values of the property as it relates to those who have any financial interest in the Beacon Bay community. Such an appraisal may be necessary if the City intends to take any action at this time regarding the future use and/or disposition of the property. This would also be particularly desirable if the electorate is to inevitably be asked to decide what the ultimate disposition of the property should be. It is estimated that a full appraisal of the property would cost approximately $10,000. Whether any further effort should be undertaken with regard to the property in question at this time is a matter which the City Council will have to determine. It would seemingly be desirable for the City Council to express itself on the following two questions: 2 1. Should the City proceed further with the firm of Development Research Associates to complete the economic analysis which that firm addressed itself to in late 1969, or should that contract be officially terminated in view of the recent lease extension request withdrawal by the Beacon Bay Community Association (copy attached); and 2. Should the City have the Beacon Bay property formally appraised as a means of assisting the City in making decisions regarding the alternatives which have been set forth in the preliminary DRA report, ie. trade the property for Civic Center property at Newport Center, etc. The City staff will appreciate some direction on this matter one way or the other in order that this project will not be further held in limbo and in order that desired actions by the City Council can be reflected through appropriate expenditure projections to be set forth in the fiscal 1970-71 municipal budget. HARVEY L. HURLBURT HLH:JPD:sr Atts.