SR-6B (24)
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JUN - q 1981
GS:SES:HS:ak 6/1/87 Santa Monica, California
Council Meeting: June 9, 1987
TO: June 1, 1987
FROM: City staff
SUBJECT: Recommendation to Adopt a Resolution Authorizing the
Sale of city-Owned Real Property Located at the Corner
of Olympic Boulevard and 20th street
Introduction
Staff recommends that the city Council adopt the attached
resolution which waives pUblic advertising and authorizes the
sale of 4,400 square feet of City-owned real property located at
the northeast corner of Olympic Boulevard and 20th street. (See
attached maps.)
Background
The subject property was relinquished to the city by the state of
California on March 16, 1966 for city street use. The appraised
value of $175,000 represents current fair market value and is
based on the judgment that the subject site is capable of being
developed independently. (A copy of the appraisal summary is
attached. )
On January 9, 1986, Santa Monica Building Materials, located
adjacent to the property and represented by Mr. Max Larson,
expressed an interest in purchasing this property for use in its
business. The company has since submitted an offer to pay the
city $190,000 for this property. 6-15
JUN - q \S81
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GS:SES:HS:ak 6/1/87
council Meeting: June 9, 1987
Staff recommends sale of this real property for these reasons:
1. The purchase price of $190,000 offered by the adjacent
property owner, Santa Monica Building Materials, ,
1.S
significantly higher than the appraised value of the site if
considered for independent development. Obtaining a higher
price for the property is unlikely.
2. The sale price of $190,000 is a significant addition to the
city's Gas Tax Fund balance. No revenue is currently
generated from the property.
3. Sale of the property will add to the City'S assessed
valuation tax base. The City'S share of property tax revenue
will increase by approximately $300 annually as estimated by
the City's Finance Department.
4. The City has no current or long-term plans for use of this
property.
5. The parcel is an Odd-Shaped, substandard lot.
6. It is desirable from a land use standpoint to have this
parcel developed in conjunction with the adjacent property
and not as an independent parcel.
As required by law, recreation and housing agencies have been
given first use consideration. These agencies have no use for
the property and the disposition can commence.
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GS:SES:HS:ak 6/1/87
Council Meeting: June 9, 1.987
Budget/Financial Impact
Sale proceeds will be deposited in the Gas Tax Revenue fund at
account number 43-905-086-000-000.
Staff Recommendation
Staff recommends that the City Council adopt the attached
resolution waiving public advertising and authorizing staff to
proceed with the sale of 4,400 square feet of real property,
located at the northeast corner of Olympic Boulevard and 20th
Street, to Santa Monica Building Materials for $190,000.
prepared by: stan scholl
Hope smith
Attachments: Property Maps
Appraisal Summary
February 2nd and June 2nd letters of offer
Resolution
sroly
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Lea AssocAes -\rtthdt..:-.J CVll:lUIr:l. Ku~r~ ~. L.:a \ I :\ 1.
:::t:tnl<:\ I"'t \"Dm~ \. .-\ L J"nn G Ellt~ :\. { .-\.!
Real Estate Consultants Cn~ E hadett M .-\.1
j<:m-ev 7. '\Ia~l
CI':Ul;l 0 Tilson
Peter L iSf:nber,:t
- December 26, 1.986 Brvan V. Lord
Mr. Neil C. Miller Re: Appraisal Report of
Assistant Director of Northeast corner of
General Serv~ces Olymp1c Boulevard
Ci t:y or Santa Mon1ca and 20th Street,
1685 Main Street Santa Monica,
Santa Monica, Callfornia 90401-3295 California
Job No. 1,258
Dear Mr. M111er:
In accordance with your request, this writing transmits three
(3 ) copies of our narrative appraisal report concerning the
above-referenced property.
.
The narrative appraisal report which follows describes the
property, its environs; the work carried out in this
assignment, and our analysis and supporting data.
Based on our investigations and analysis, we conclude t':},::I t, as
of the cuxrent date, the subj ect pare:: el (land aMY) has a fair
marke t value of:
ONE HONORED SEVENTY-FIVE THOUSAND DOLLARS
1$175,0001
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L~ ~SOCIates Inc
Rea.! Estate C,)nsultants
1633 Pontile; .....\enue
Los .....nge.es. Ghtomla 90025
7e'ephone 1:!13l ..i7-6393
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- Mr. Neil C. Miller
- Dec~mher 26, 1986
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Page Two
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Retained in our files are worksheets, field notes, maps, and
- other data upon which our analysis and conclusions are based.
Should you have any questions concerning the contents of this
report, feel free to call and we will respond promptly.
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Thank you for the opportun2ty to serve you in your property
- analysis needs.
- Respectfully submitted,
Reviewed and approved: LEA ASSOCIATES, INC.
,..
~?C M.A.I. V,uu,UF ~
.- Susan Jean Rice
Analyst
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MAX w. LARSON
ATTORNl!:Y AT LAW
122.12 WEST PICO BOULEVARD
LOS ANGELES. CJ. T .11l'QRNIA 90064
'J'H" .iI;...tS~ (213) 473-4632
Fe>hruary 2, 1987
Mr. Niel C. Miller
Assistant DU'ector of General Services
City of Santa M.mi.ca
1685 M~;~ Street
Santa Monica, C1\ 9Q401
Re; Offer 'Ib Purchase Real Prope.rty,
NorthPo;'lst corner of Olympic Blvd & 20th Street
Dear Mr & Miller:
On behalf of ~ clients r Santa MJnica Bni.1ding Materials, r wish
to sulmit an offer of $168,400, all cash, for the purchase of the real
pro~ located on the Northeast oorner of Olympic Blvd,. & 20th Street,
and !TOre parti~ described in that certain descriptJ.on as developed
by Pscmas & Associates transmitted to you on September 2, 1986 and also
m that certain appra~sal made by lea Associates transnutted to you on
Janl1~ry 16, 19'87_
This offer to purchase l.S subject to the property being :free of
any easements or a covenant to rarove them withm a certain reasonable
tirre to be agreed upon. Said purchase J.S to be Cuitflleted through an
escrow W1.thin 60 days of acceptance of t.lu.s offer.
It is recogru.zed that the subject property was appraJ.Sed at
$175,000. However, my clients expended a total of $10,303 to Psanas
& Assoc:lates to develop the legal descri~on and $2900 to Lea Associates
for the appraisal, for a tor.rll expenditure of $13,203. It is reasonei
that it would be f"'l1r for the buyer and seller to share equally ll1 these
oosts. The $175,000 appraised. value, less one-half costs, rounde:1 to $6,600
results in my' clients offer of $168,400.
If there are any tecluucal errors in the procedure use:1 for sul::mi.ttmg
this offer, please advise at your earl~est converu.ence.
Very truly yours,
- -. -- ---~
~~~ ~;;;;;:;V ~kW.y~------
Santa M:mica Bui.J.9J.ng ~J.als
by AN'ItNto AGUERO I Attorney at Law
. .
MAX W. LARSON
A 'l"'1'()Rl\/~~ AT LAW
12212 WEST PlCO BOULEVARD
LOS AN(:.1llT .1ilS, C,.6. UIi'ORNlA 800M
<.I'M" .1I!PHONE (213) 4.734632
June 2, 1987
Mr. Niel C. Miller
Assistant Director of General Services
City of Santa MJnica
1685 ~i~ Street
Santa MJnica, CA 9040l
Re; Offer To Purchase Real Estate Property
Northl:>.:'I~t comer of Olympic Blvd. & 20t."1 Street
Dear Mr. Miller:
Please refer to my letter of February 2 ( 1987 in regards to
Santa MJIlica Building Materials offer to purchase the Northeast
corner of Olympic Blvd. and 20th Street.
This present letter is to resuI::mit the. previous offer and its
terms with the exception that the offering price is $190,000 cash.
Very truly yours,
~~~~
Attorney at Law
~roved; 4rbt1Jb
San
by Antonio Aguet::6 "
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RESOLUTION NO.
(CITY COUNCIL SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SANTA MONICA WAIVING ADVERTISEMENT
REQUIREMENTS AND AUTHORIZING THE SALE OF A
PARCEL OF REAL PROPERTY LOCATED AT THE
NORTHEAST CORNER OF OLYMPIC BOULEVARD AND 20TH
STREET
WHEREAS, the state of California relinquished the
property described in section 2 of this Resolution to the City of
Santa Monica on March 16, 1966, for use as a City street: and
WHEREAS, the City has determined that the property
described in section 2 of this Resolution is no longer needed for
the purpose acquired and that said property is not needed for any
public purpose: and
WHEREAS, the City has received from Santa Monica
Building Materials an offer to purchase the property described in
section 2 of this Resolution for $190,000, which exceeds the
property's fair market value; and
WHEREAS, pursuant to Municipal Code section 2508A, real
property may be sold without advertising for bids if the City
council, by resolution adopted by at least five affirmative
votes, determines that to advertise for bids would be to no avail
and would cause unnecessary expense and delay or would not be in
the best interest of the City: and
. .
. WHEREAS, appropriate recreation and housing agencies
have been notified of property availability but have no use for
said property,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA
MONICA DOES RESOLVE AS FOLLOWS:
SECTION 1. Public advertising for bids of the property
described in Section 2 of this Resolution is hereby waived
because an offer has been received for purchase of the property
I excess of the full market value from the adjacent property
l.n owner and to advertise would cause unnecessary expense and delay,
would be unlikely to bring a higher purchase price, and would not
be in the best interest of the City.
SECTION 2. Subject to complying with all applicable
provisions of state and local laws, the city Manager is hereby
authorized to sell the certain real property hereafter described
to Santa Monica Building Materials for the sum of $190,000. Said
property is described as follows:
That portion of Olympic Boulevard in the City of Santa
Monica, County of Los Angeles, state of California,
relinquished by the state of California to the city of Santa
Monica per deed recorded on March 28, 1966, in Book R2523
Page 769, of official records of said county: said land
being portions of Lots 10, 12 and 14 in Block 20 of the
Erkenbrecher Syndicate Santa Monica Tract, in said city,
County, and State as shown on Map recorded in Book 6, Pages
. .
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26 and 27, of Maps In the offlce of the County Recorder of
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sa1d County, descrIbed as whole as follows:
Commencl.ng at the most westerly corner of saId Lot 12:
thence along the Southwesterly lIne of saId Lot, south
44045100" east (beln:] the basis of bearl.ngs for the purposes
of th1S descrIptIon), 24.80 feet to the begInnIng of a
non-tangent curve concave northerly, hav1ng a radIUS of
15.00 feet, a radtal ll.ne of sa1d curve to sa1d pOl.nt
bear1ng south 03033'37" east; thence easterly along sal.d
curve through a central angle of 33059'46" an arc dl.stance
of 8.90 feet to a 1l.ne that 1S parallel Wl.th and B.OO feet
northeasterly, measured at right angles, from sala
Southwesterly L1.ne of saId Lot, saId pOInt belng the true
p01nt of_ beg1nnIng, a rad1al 11ne of saId curve to sa1d
p01nt bear1ng south 3703312311 east; thence cont1nu1ng along
saId curve through a central angle of 1901110211 an arc
dIstance of 5.02 feet to a p01nt of compound curvature w1th
a curve hav1ng a r ad 1 us of 765.00 fee t, a radl.al lIne of
sal.d curve to sald pOl.nt bearlng south 56044125" east;
thence northeasterly along said curve through a central
angle of 1004711711 an arc dIstance of 144.04 feet to the
Northeasterly llne of sal.d Lot 10; thence along sald
Northeasterly l~ne of saId Lot 10, and of Lot l2, south
4404215311 east 29.05 feet to the begl.nn~ng of a tang en t
curve concave southwesterly, haVIng a radIUS of 5.00 feet;
thence southeasterly along saId curve through a central
angle of 6802011511 an arc dlstance of 5.96 feet to a po 1 n t
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. of compound curvature with a curve hav~ng a radlus of 795.00
feet, saId curve beIng concentrIc WIth aforesaId curve
havIng a radIUS of 765.00 feet, a radIal lIne of saId curve
to Sala pOInt bearing south 66022'38" east~ thence
southwesterly along sal.d curve through a central angle of
8039'29" an arc dlstance of 120.13 feet to a pOl.nt of
compound curvature WIth a curve haVIng a radIUS of 20.00
feet, saId curve beIng tangent at Its westerly end to sal.d
prevIously mentioned parallel lIne that passes through the
true pOl-nt of beglnnlngi thence westerly along saId curve
through a central angle of 102058'09" an arc dIstance of
35.94 feet to saId parallel llne; thence along sald parallel
Ilne north 44045'00" west 6.71 feet to the true point of
begl.nnlng.
SECTION 4. The CIty Manager 15 Instructed to execute
all Instruments necessary and do all other thIngs necessary to
effectuate thIS sale.
SECTION 5. The CIty Clerk. shall certIfy the adoptIon
of tnls ResolutIon and, thenceforth and thereafter the same shall
be 10 full force and effect.
APPROVED AS TO FORM:
~M. ~
ROBERT M. MYERS
CIty Attorney
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