HomeMy WebLinkAboutRDA PURC AGENCY PROP 05-01-89NO. 5
TO:
FROM:
SUBJECT:
TUSTIN COMMUNITY REDEVELOPMENT AGENCY
WILLIAM A. HUSTON, EXECUTIVE DIRECTOR
OFFER TO PURCHASE AGENCY PROPERTY
(P~RCEL :~0 - EL C~I~INO REAL)
The Agency has received the attached request from Laguna Land and
Cattle Company to purchase the Agency's property situated on E1
Camino Real. This site was acquired by the Agency in connection
with the Stevens Square project in 1981. At the time it was
acquired, the agency's Board expressed its desire to retain the
site for possible consolidation with adjoining properties. The
Agency had considered the possibility of providing access to the
stevens Square parking structure via the Agency's lot. However,
action was deferred until litigation concerning financial
responsibility for repairs to the structure is resolved.
The Agency has the following options with regard to Laguna'Land and ·
Cattle Company's request:
1. Negotiate a sale;
2. Offer the site for sale through a competitive bid
process;
3. Retain the site.
In the event the Agency decided to sell the lot, it is recommended
that the sale be consummated through a development disposition
agreement which-indicates the terms under which the lot could be
used.
WAH/dsh/~$ ) '3/'/
A:134 ~ .
I-AG UNA LAN O AND CATTLE CO.. INC. · 730 EL CAMINO WAY. SUITE 2OO. 'I'USTIN. CA 92680 · (714) 832-1165 · LIC. #496604
..
March 20, 1989
Ms. Ursula Kennedy
Mayor of Tustin
300 Centennial Way
Tustin, California 92680
RE: Parcel 10 - E1Camino Real
South of Main Street
Dear Mayor:
I am a real estate developer with my offices located on
E1 Camino Way in Tustin. I am interested in purchasing
the above-referenced lot on E1 Camino Real for approximately
$2oo,ooo.
The property is adjacent to the parking structure on "C" Street
and I would be interested in utilizing the structure for parking
for the office building we propose to build. This office building
will be 2 stories consisting of approximately 8,700 square feet.
The building will be similar to our office building located at
730 E1Camino Way in Tustin.
Thank you for taking the time to consider our.interest and offer
for this property. We enjoy having odr offices in Tustin and enjoy
.the city very much.
Sincergly,
LAG
Exr~ J. O'ernlch
cc: Mr. William Houston, City Manager
Mr. Ron Nault, Finance DirectoP
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TUSTIIV CITY
SOUTH TUSTIN TI?ACT
TI?ACT NO. 324
TI?ACT N0....10979
L. A. /- Sa, SJ 6~ /28
M. tW. 1-99
M. M. 15- JO
M. M 495-3J