R-4905
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c ~. ;SIS:Jak 7-28-77
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RESOLUTION NO.
( 4 9 05) CCS
(C~ty Counc~l Serles)
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA MONICA Al'\ffiNDING
SECTION 2 OF RESOLUTION NO. 4892
(CITY COUNCIL SERIES) APPROVING
ACQUISITION POLICIES AND PROCEDURES
FOR THE DOWNTOWN REDEVELOPMENT PROJECT
THE CITY COUNCIL OF THE CITY OF SANTA MONICA,
BY A MOTION, DOES RESOLVE AS FOLLOWS:
SECTION 1.
That Seetlon 2 of Resolutlon No.
4892 (City Counc~l Ser~es) ~s hereby amended and shall
read as follows:
2. That the Clty Manager or his
deslgnee is hereby authorlzed to:
a. Approve on behalf of the
City the lower of two appra~sal reports
prepared and subm~tted by lndependent
appraisers for said real property
acqu~sitlon.
b. Establish Just compensation
to be pa~d and make offers on behalf of
the City for the acqu~s~tion of real
property on the baS1S of the aforesaid
approved appralsals In the maximum amount
of the approved appralsal plus an amount
equal to one-half of the d~fference
between the approved appra~sal and the
hlgher second lndependent appralsal
submitted for the real property involved.
SECTION 2.
The Clty Clerk shall certlfy to the
adopt~on of th~s resolut~on, and thenceforth and thereafter
the same shall be in full force and effect.
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