sr-120462-6nCITY OF SANTA MONICA
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DATE: November 27, 1962 F ~ ~ ~, ~ :N~ ~.r,
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TO: The Honorable City Council ~%~-'~ = 1.9b
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FROM: Ernest N. Moble Cit Mana er ~ ~ ~' ~~` `~ i~ ~ _ '~
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SUBJECT: Unimproved Parcel of Land on the Southwesterly Side of Main
Street, Northwesterly of Pico Boulevard
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The subject property, an irregular parcel containing 12706 square
feet and adjacent to the Rand Corporation, has been appraised
pursuant to Council authorization.
We have received a tentative and informal offer from an officer
of the Rand Corporation to purchase the property at our appraisal
value.
The City has no present or forseeable future use for this parcel.
Present zoning would permit about five units of income property
thereon, which in our opinion would be an undesirable develop-
ment in that particular location.
It is our recommendation that if the Rand Corporation is willing
to purchase at our appraisal figure, the City Council should so
authorize.
ENM/fc
-_°' -_~
ERNEST N. MOI
City Manager