HomeMy WebLinkAboutC-1338 - Property Appraisal Services - 32nd Street & Seashore Drive ExtensionDATE Fenumxy 17, 1971
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T0: FINANCE ILL t IVA
FROM: City Clerk
SUBJECT: Contract No." 1338
Description of Contract �praieal services - 32nd Street
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Oouncil.
Authorized by Rumbd6waft. V25 -19 , adopted on 1 -25-71
Effective date of Contract 2 -9-71
Contract with George Hamilton Jones, M.A.I.
Address 3471 Via Lido
Newport Beach, CA
Amount of Contract $3,000.00
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city
Clerk
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FROM: Public Works Department
SUBJECT: PROPERTY APPRAISAL FOR THE EXTENSION OF 32ND STREET.FROM BALBOA
'BOULEVARD TO SEASHORE DRIVE AND SEASHORE DRIVE FROM 33RD STREET
TO 32ND, STREET
Attached is the original letter of understanding between
George Hamilton Jones, MAI, and the City of Newport Beach
relative to the subject appraisal which was approved by
the council on January 25, 1971.
We have sent a copy to Mr. Jones and have retained a copyfbr
our files.
(/ L /) J
on Webb
Project Engineer
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GEORGE HAMILTON JONES, M.A.I.
RESIDENCE TELEPHONE APPRAISAL CONSULTANT MEMBER
(714) 673 -3427 SUITE 207 AM ERIC TE OF
OFFICE TELEPHONE 3471 VIA LIDO REAL T {!� S
(714) 673 -6733 NEWPORT BEACH, CALIFORNIA 02660 Ln ��
February 3, 1971 ,�
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Mr. Don Webb, Project Engineer
Public Works Department
City of Newport Beach j
Newport Beach, California 92660 Re: 32nd Street and Seashore
Drive Extension
Appraisal Services
Dear Mr. Webb:
In accordance with your request, we have estimated the fee for
the appraisal of:
(a) That property known as Parcels G, H and Fsituated
within and on either side of Lake. Avenue southerly
of 32nd Street (as proposed)
(b) Parcel J situated oceanward of Balboa Boulevard ad-
jacent to 32nd Street, if extended, vested in Southern
Pacific Transportation Company and portions of a lot
adjacent to the west thereof, lying northerly of 32nd
Street
Parcels G, H, and Fshall be valued on two bases, namely,
(1) Considering their worth to the general market, and
(2) Their value as plotted with the adjacent shopping
center land
Parcel J, and the adjacent lot, are partial takings and the effect on
value of the remainders will be estimated.
The fee for this work shall be $3, 000 with reports submitted in
triplicate on or before May 1, 1971.
Mr. Don Webb, Project Engineer - 3 -
February 3, 1971
The appraisals will be prepared in conformity with the standards of
practice of the American Institute of Real Estate Appraisers, of which I am
a member.
The above fee does not include compensation for attorney conferences,
trial preparation or court testimony in event such is required in the future,
If the fee and understanding in respect to this assignment are accept-
able, please sign in the space set out below.
GHJ /mb
A &u�o�ect (sv itry� of Newport Beach
on ��Yt`4e tw1C ���'k� 1971,
Respectfully subulitLed,
Hamilton Jones, M.A.I.
January 25, 1971
T0: CITY COUNCIL 1971
By the CITY COUNCIL
FROM: Public Works Departim of s F 0—^`° mT RFA4—H
SUBJECT: PROPERTY APPRAISAL FOR THE EXTENSION OF 32ND STREET FROM BALBOA BOULEVARD TO
SEASHORE DRIVE AND SEASHORE DRIVE FROM 33RD STREET TO 32ND STREET
RECOMMENDATION:
Authorize the staff to retain George Hamilton Jones, MAI to perform
the subject appraisal.
DISCUSSION:
There will be approximately one -half acre of excess land after the widening of
32nd Street between Newport Boulevard and Balboa Boulevard is accomplished. This area
is almost equal to the area of land required to extend 32nd Street from Balboa Boulevard
to Seashore Drive and Seashore Drive from 33rd Street to 32nd Street.
The Southern Pacific Land Company owns the land needed for the extensions as
well as the Market Basket property adjacent to the city's excess property. It is
proposed to negotiate a land trade. The Southern Pacific Land Company has been approached
on this subject and has indicated that it is interested in such a trade.
The subject appraisal will determine the value of both pieces of property. Two
values for the excess city -owned property will be determined; (1) the value to the general
market and, (2) the value to the adjoining owner.
Mr. George Hamilton Jones, MAI has submitted a proposal to perform the appraisal
at a fee of $3,000. Mr. Jones appraised the property for the 32nd Street widening project.
He is very familiar with this area and is well qualified to perform the work.
The current budget contains a Gas Tax Project for the subject appraisal.
Sufficient Gas Tax Funds are available.
Attached is a sketch showing the property to be appraised.
eph Devlin
lic r s Director
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APPRAISAL OF PROPER.
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