HomeMy WebLinkAboutAlessandro Alley Prjct - APN 627-092-043CITY OF PALM DESERT/PALM DESERT REDEVELOPMENT AGENCY
STAFF REPORT
REQUEST: AUTHORIZATION TO REIMBURSE THE CITY IN THE AMOUNT
OF $216,140 FOR THE FAIR MARKET VALUE OF VACANT LOT
(APN 627-092-043) ASSOCIATED WITH THE ALESSANDRO
IMPROVEMENT PROJECT
SUBMITTED BY: BRYCE L. WHITE, PROJECT ADMINISTRATOR
DATE: MAY 7, 2009
CONTENTS: AERIAL MAP
Recommendation:
By Minute Motion, that the Agency Board:
1. Appropriate $216,140 to Account No. 850-4341-433-4001 from
unobligated Project Area No. 1 funds;
2. Authorize reimbursement to the City in the amount of $216,140
through a reimbursement agreement to be executed by the Executive
Director; and
3. Authorize staff to reimburse the Agency using Housing Set-Aside
funds, if it is determined that the property or a portion thereof qualifies
as low/moderate affordable housing.
Executive Summarv:
The subject property is located on San Benito Circle and is adjacent to the Alessandro
Alley Improvement Project. Approval of staff's recommendation will authorize
reimbursement to the City by the Agency of $216,140 for the fair market value of the
property. The property is zoned R-1 (Single-family residential) and backs up to the
Alessandro Alley. The southern portion is necessary to implement the Alessandro Alley
Improvements. The remainder of the property may be utilized for a future affordable
housing residence.
Discussion:
The subject property is a 10,807 square foot vacant lot on San Benito Circle. On
January 8, 2009, the Council authorized the acquisition of a portion of the adjacent
property at 73-361 San Benito Circle (APN 627-092-008) and, in a separate
G 1rdalMana Hunt\WPDATA\WHITE\WHITE\stfrpts\050709reimbuse City APN 627092043.doc
Staff Report
Authorization to reimburse City for present value of Vacant Lot (APN 627-092-043)
Page 2 of 2
May 7, 2009
authorization, a portion of 73-341 San Benito Circle (APN 627-092-007) each for $20.00
per square foot. Both of these properties are zoned R-1 (Single-family residential), as is
the subject property.
Based on these recent acquisitions, the fair market value of $20.00 per square foot for
the subject property is reasonable. The valuation of subject property of 10,807 square
feet at $20.00 per square foot is $216,140. The southern portion is required as part of
the Alessandro Alley Improvement Project and the remainder parcel may be used as
future affordable housing.
Therefore, staff recommends reimbursement to the City in the amount of $216,140 for
the subject property.
Submitted by:
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C Bryce L. White
Project Administrator
Department Head:
day.� Yrigoyen i
Dire �tor of Red eloprr�ent/Housing
Approval:
iAM: Wohlmuth
Manager/Executive Director
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VERE�IED �3Y`��`K-I 1
Original on file with Coty k's dffice
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Martin Alvarez
Redevelopment Manager
Approval:
��'�tin McCarthy
AC M for Redev�
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Paul S. Gibson
Director of Finance
CITY COUNCIL AC�ION
APPROVED �
RECEIVED
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OTHER
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Ori�inal on File wit6 Cit�lerk's Office
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SAN BENITO CIRALLEY
Date:
4/16/2009
LOCATOR MAP
APN: 627-092-043SAN BENITO CIRALLEY
I1 inch = 50 feet
ALESSANDRO ALLEY
APN: 627-092-043
73-361 San Benito CirAPN: 627-092-008
73-341 San Benito CirAPN: 627-092-007