HomeMy WebLinkAboutRDA PURCHASE PROP. 05-15-89TO:
FROM:
SUBJECT:
WILLIAI~ A. HUSTON, EXECUTIVE DIRECTOR
CHRISTINE SHI#GLETON, DIRECTOR OF COI~NITY DEVELOPt4ENT
OFFER TO PURCHASE PROPERTY (PARCEL 10 - EL CAFIINO REAL)
RECOMMENDATION
.....
Pleasure of the Agency.
BACKGROUND
The Agency at their meeting on May 1, 1989 continued their discussion on this
item to permit notification of Mr. Eric Cernich. Since the Agency's meeting,
Mr. Cernich has been notified by letter and telephone of the Agenc. y's
consideration of this matter on May 15th.
CAS- pef
Attachment: Staff Report 5-1-89
TO:
TUSTIN COMMUNITY REDEVELOPMENT AGENCY
FROM:
WILLIAM a. HUSTON, EXECUTIVE DIRECTOR
'SUBJECT:
OFFER TO PURCHASE AGENCY PROPERTY
(P~RCEL 3.0 - EL ~INO RE~)
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 re~ard to Lagdna 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. ~
A:134 ~
I..AGUNA LAND AND CATTLE CO.. INC. · 730 EL CAMINO WAY. SUI.TE 200. TUS'TIN. CA 92680 · (714) 832-1165 · I. IC. #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 ~state 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.
$200 ,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 our'offices in Tustin and enjoy
the city very much.
Sincerely,
LAGUNA L & C CO., .
Eri~ J. Uernich
Executiv~t
cc: Mr. William Houston, City Manager
Mr. Ron Nault, Finance Director
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LAGUNA LAND AND CA3'rLE CO.. INC. · 730 EL CAMINO WAY. SUITE 200. TUSTIN. CA 92680 · (714) .832-1165. FAX # (714) 832-9786 · LIC. # 496604
· . ·
May 5, 1989
-- RECEIVED _.
HAY U 9 1989
COMMUNIPt
Ms. Laura Kuhn
Senior Planner Community Development
CITY OF TUSTIN
300 Centennial Way
Tustin. California 92680
·
RE: Parcel 10; E1 Camino. Real off of Main Street
Dear Ms. Kuhn:
As I mentioned to you in our telephone conversation, we are interested
in purchasing the above-referenced lot on E1 Camino Real.
I understand that the City is interested in selling the property but
would not like the Property to be deVeloped by itself.
We currently have an outstanding offer on the house to the west of the
city's lot. The negotiations have been going smoothly and I would assume
that we will be in escrow on this property within the next 30 days.
It~would be our in. tenbion to develop both of these properties into an
°ffiCe'comPlex similar to ours down the street,
Thank you* for your courtesy and cooperation in this matter.
Sincerely ~'/~'~i~ ?'"~ *
LAGUNEri~J..];.~LAN.D':,~?CATT ., INC.
Executive Vice President