HomeMy WebLinkAboutF-15 - Acquisistion of 202 41st Street•
July 8, 1985
•
•
TO: CITY COUNCIL
FROM: Public Works Department
SUBJECT: ACQUISITION OF 202 41ST STREET - (A.P. 423-306-05)
RECOMMENDATIONS:
CITY COUNCIL AGENDA
ITEM NO. F-15
BY THE C'Ty COUNCiL
CITY n= MFWpeRy eF4rH
JUL F
APPROI,F,j)
)
1. Authorize the purchase of 202 41st Street for $150,000.
2. Authorize the acceptance of a grant deed for 202 41st Street
from Harry H. and Mary T. Iversen.
DISCUSSION:
On No.vember 28, 1983, the City Council certified the Final EIR and
directed staff to apply for AHFP funding necessary to acquire right of way to
widen Balboa Boulevard from 33rd Street to 44th Street. Implementation of the
project requires: the acquisition of six parcels. The current schedule calls for
the purchase of the -six parcels over a two -.year period followed by a one-year
construction period. The purchase of this parcel initiates the second -year
phase of right-of-way acquisition.
Mr. George Hamilton Jones, MAI, was retained to appraise all six prop-
erties. He completed the appraisal on November 20, 1984, and concluded that
the f air .market value of the sub3ect parcel was $150,000 as of September 5,
1984. Mr. and Mrs. Iversen accepted the City's offer of $1.50,000, contingent
upo.n City Council approval.
The property at 202 41st Street is 32.14 feet wide by 85 feet deep,
and is on the easterly corner of 41st Street and Balboa Boulevard. The struc-
ture is a single story residence. The dwelling is currently rented on a monthly
basis for a total of $350 per month. The tenant has occupied the dwelling over
90 days, making her eligible for relocation benefits if she moves from the pro-
perty at the City's request. These benefits could be as much as $4,000 plus
moving expenses.
It is recommended that the City purchase 202 41st Street for the
.appraised fair market value of $150,000. Sufficient funds h.ave been budgeted
using 50% Gas Tax monies and 50% AHFP funding for the acquisition of parcels
along Balboa Boulevard.
The attached Exhibit A shows the subject property, as well as the.
fifteen parcels that the City has already acquired for the widening of Balboa
Boulevard. The acquisition of this parcel leaves three parcels to be acquired
between 33rd Street and 44th Street.
Benjamin B. Nolan
Public Works Director
HH: jd
Att.
'°vrnmenelnnee+ { rri i`1!i REQU!gr7L) By
Order No.
Escrow No.22D0-2
t;r,UGO TITLE INS. CO_
Loan No.
n
WHEN RECORDED MAIL TO:
City of Newport Bench
Public Works Dept.
P. O. Box 1768
Newport Beach, CA 92658-8915
MAIL TAX STATEMENTS TO:
SAME AS ABOVE
EXEMPT
C2
REC,CRJED li: !:FFICIAL Rc-CORDS
i]FRx+lvi.;= ,T`': Cni.l= VII
-3 3; PM JUL Z 2 r85
C)UNTY
G� r:-c `r�J�•�J� F;L!:OiiJEq
SPACE ABOVE THIS LINE FOR RECORDER'S USE
DOCUMENTARY TRANSFER TAX $...�.X�n1/�T ...................
...... Computed on the consideration or value of properly conveyed, 09
...... Computed on the consideration or valueless liens or encumbrances
remaining at time of sale.
Signature of Da Ora or Apent dot mining tax Firm Nams
GRANT DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby ack
Harry H. Iversen and Mary T. Iversen, husband and wife 1L
hereby GRANT(S) to
The City of Newport Beach
the real property in the City of Newport Beach
County of Orange
State of California, described as
Lot 2 and the Northeasterly 3.57 feet of Lot 1 in Block 140,
Canal. Section, Newport Beach, as shown on a map recorded in
Book 4, Page 90 of Miscellaneous Records of Orange County,'
California.
Dated June 27, 1985
I
STATE OF CALIFORNIA iss.
COUNTY OF 0R.A-NG.E }
,3u 1 Y.
before me, the undersigned; a Notary Public in and for said State, per-
sonallyaAl7eared_ iaixKy_..H..-_ Iversen and _
Mary T. Iversen
personally known to me (or proved to me on the basis of satisfactory
evidence) to be the person(s) whose name(s) iS/are subscribed to the
within instrument and acknowledged to me that he/Sheithey executed
the same.
WITNE my hand an al.
Sign re_,_
Al
Harry Ii. i rsen
Mary Tfiversen
OF'CIAL UAL
J. ROSE
NCTARY i',;i3LfC - CALIS LIRNIR r
Y'rii?'iC+PAL 0� iIC.T Hsi
+y Go^ImISSIea Frtf. lrsay 7. 1937
(This area for official notarial seaO
1002 (6/82)
MAIL TAX STATEMENTS AS DIRECTED ABOVE
85--26913
This is to certify that the interest in real property conveyed by the:
deed or grant dated June 27, 1985
Harry H. Iversen and Mary T. Iversen, husband and wife
. from
to the City of Newport Beach, a municipal corporation, is hereby accepted
by order of the City Council on the 8bh day of July ,
19_85 , and the grantee consents to recordation thereof by its duly
authorized officer.
Dated:
h
2
15, 1985 By:�-
ai133 r City Clerk of the/City
of Newport Beach