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SUBJECT:
CITY OF SANTA MONICA
September 5, 1967
Perry Scott, City Manager
W. A. Aard, Director of Finance
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Additional Appropriation to Purchase Balance of
Department parking area '•
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We appropriated $71,775 in the 1965-66 Transportation budget to
acquire Lots 12, 13, 14, 15, and 16 of Tract 974 for the purpose
of freeing for subsequent sale the some 41,600 square feet of
Transportation Department property fronting on Lincoln Boulevard.
Lots 12 and 13, in private ownership, have already been purchased
at a net cost including demolition and clearance of $60,125, or
$5.23 per square foot for 11,500 square feet.
The remaining three lots comprising 10,350 square feet approximately,
and fronting on Sixth Street, are the property of the State of Calif-
ornia, which has offered them to us for $60,000, or $5.80 per square
foot approximately.
An additional appropriation from TrarsNOrtation Depreciation Fund
Unappropriated Surplus in the amount of $48,350 will enable us to
complete the transaction.
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W. A. HARD
Director of Finance
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