18-0403_CALIFORNIA DEPARTMENT OF TRANSPORTATION_F2a_PowerPoint Presentation (Agreement)
Purchase of Excess Caltrans
Parcel 102506-01-01
Southwest Corner of
Ortega Hwy and Del Obispo St.
(Item F2a)
April 3, 2018
1 April 3, 2018 City Council
Location Map
2
Caltrans Disposal Process
1.Objective is to achieve highest value
for property.
2.Subject Parcel 1 offered to City as
adjacent land owner on condition
that property be maintained for a
“public purpose”.
3
“Public Purpose” Options
Parkette integrated with
Playhouse development;
Public parking;
Entry monumentation;
Combination of above.
4
A “Public Purpose” Concept Design
5
Parkette Integrated
with Playhouse
General Plan and Zoning
General Plan designation
◦General Commercial
Zoning
◦Town Center District
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Terms of Sale
1.Sale price is “fair market value” based
on Caltrans appraisal = $764,000.
2.City Council adopts resolution;
a)Approving Purchase and Sale Agreement
(PSA);
b)Authorizing City Manager to execute
PSA.
3.Contingent on Calif. Transportation
Commission approval.
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Source of Funds
1.Purchase using General Fund fund
balance.
2.Pursue reimbursement from Playhouse
site developer upon entitlements.
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Recommendations
1.Adopt s resolution approving the PSA
and authorizing CM to execute PSA.
2.Approve appropriation from GF of
$764,000 for purchase of property +
$1,000 for incidentals (title report,
legal reviews).
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END
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