City of Culver City, California
Agenda Item Report
Page 1 of 3
RECOMMENDATION:
Staff recommends the Culver City Redevelopment Agency Board (Agency Board)
approve a Purchase and Sale Agreement for a portion of the Agency owned
property located at 3433 Wesley Street, Culver City, to the Los Angeles County
Metropolitan Transportation Authority (Metro) and approve the related budget
amendment.
PROCEDURE:
1. The Chair seeks a motion to receive and file the affidavits of publication and
posting of notices, and correspondence received in response to the public
hearing notices; and,
2. Chair calls for a staff report and Agency Board Members may pose questions to
staff as desired; and,
3. Chair seeks a motion to open the public hearing; and,
4. Chair seeks motion to close the public hearing after all public testimony has
been presented; and,
5. The Agency Board discusses the item and arrives at its decision.
Meeting Date: 09/27/10 Item Number: PH-1
REDEVELOPMENT AGENCY BOARD AGENDA ITEM: PUBLIC HEARING –
Approval of a Purchase and Sale Agreement to Sell a Portion of the Agency
Owned Property Located at 3433 Wesley Street to the Los Angeles County
Metropolitan Transportation Authority and Approval of the Related Budget
Amendment.
Contact Person/Dept.: Glenn Heald and
Todd Tipton, Community Development
Department
Phone Number: 310.253.5752 and 5783
Fiscal Impact: Yes [X] No [] General Fund: Yes [] No [X]
Public Hearing: [X] Action Item: [] Attachments: [X]
Commission Action Required: Yes [] No [X] Date: _______________
Public Notification: Published in the Culver City News 09/16/10; (E-Mail) Meetings and
Agendas – Redevelopment Agency (09/23/10).
Department Approval:
Sol Blumenfeld (09/21/10)
Agency General Counsel:
Murray Kane (09/16/10)
Chief Financial Officer Approval:
Jeff Muir (by N. Kimball)(09/23/10)
Agency Executive Director Approval:
John M. Nachbar (09/23/10) City of Culver City, California
Agenda Item Report
Page 2 of 3
BACKGROUND:
The Culver City Redevelopment Agency (Agency) owns a parcel of land at 3433
Wesley Street, Culver City (Property). The Property is currently an improved
surface parking lot that is leased to Mr. Jim Hull, owner of the adjacent commercial
property at 3431 Wesley Street|1010|.
The Property is a triangular parcel of 4,148 square feet and is located adjacent to
the cul-de-sac where Wesley Street abuts the Metro right-of-way (ROW)
(Attachment No. 1). A portion of the Wesley Street cul-de-sac encroaches upon the
ROW, which Metro is improving as a multi-use path. In order to reconfigure the cul-
de-sac so it no longer encroaches onto the ROW, Metro requires a portion of the
Property designated Parcel Number WE-606 (Attachment No. 2).
DISCUSSION:
WE-606 is approximately 1,476 square feet and was appraised in June 2009 at a
value of $140,000. On July 20,
2010 Metro offered the Agency $172,000 for fee
simple interest in WE-606 (Attachment No. 3). This offer has been extended to
September 30, 2010.
FISCAL ANALYSIS:
Should the Agency Board approve the proposed agreement, the Agency would
receive $172,000 in one-time land sale proceeds. A budget amendment to
increase revenues by $172,000 in business unit 57396000.386350 (Property
Acquisition) will be necessary to account for the one-time revenues. The sale of
WE-606 to Metro will require terminating or modifying the Agency’s lease with Mr.
Hull.
ATTACHMENTS:
1. Assessor Parcel Map of the Property and surrounding area.
2. Parcel Plat WE-606; Metro’s planned acquisition of a portion of the Property.
3. Metro Offer to Purchase a portion of 3433 Wesley Street, dated July 20, 2010.
City of Culver City, California
Agenda Item Report
Page 3 of 3
MOTION:
That the Agency Board:
1. Approve the Purchase and Sale Agreement for a portion of the Agency owned
property at 3433 Wesley Street, Culver City, identified as WE-606, to the Los
Angeles County Metropolitan Transportation Authority for the price of $172,000;
and,
2. Approve a budget amendment appropriating $172,000 in revenues in business
unit 57396000.386350; and
3. Authorize the Agency General Counsel to review/prepare the necessary
documents; and,
4. Authorize the Executive Director to execute such documents on behalf of the
Agency.
|1010| Beginning in 1955, Mr. Hull has contracted with the City for use of 3433 Wesley Street as parking
for his commercial property at 3431 Wesley Street. In October 2001 a new lease was executed,
stipulating that Mr. Hull perform specified improvements to the property in exchange for parking use
credited toward the improvement costs at the rate of $350 per month. The specified improvements
were completed in March 2003. In July 2009 the Agency purchased 3433 Wesley Street from the
City and continued the lease with Mr. Hull. The current lease expires in 2014 and may be
terminated by the Agency without cause with thirty days’ notice, upon which the Agency must pay
Mr. Hull the balance of the $45,000 credit toward the required improvements less the applicable
amount for the monthly lease fee denoted above. As of September 1, 2010, Mr. Hull’s credit
balance is $13,850. In the event the Agency executes a modified lease or sells the property
remnant to Mr. Hull, the balance of the $13,850 will be applied to the lease or sale amount.
MEETING DATE: 09/27110
AGENDA ITEM: Approval of Sale of Portion of 3433 Wesley Street
ATTACHMENTS
Paqes
1. Assessor Parcel Map of the Property and surrounding area. 1
2. Parcel Plat WE-606; Metro's planned acquisition of a 2
portion of the Property.
3. Metro Offer to Purchase 3433 Wesley Street, 3-4
dated July 20, 2010.1993
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Attachment 2
Parcel Plat WE-606 showing MTA's planned use of a portion of 3433 Wesley Street.Metro
Attachment 3
RE,c.E1V ED
Metropolitan TransPortaan Authority
2[115 JUL Z3
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30
One Gateway Plaza 213.922.2000 Tel
Los Angeles, CA 90012-2952 rnetro.net
July 20, 2010
Mr. Sol Blumenfeld
Assistant Executive Director
Culver City Redevelopment Agency
9770 Culver Blvd.
Culver City, CA 90232
RE: Exposition Light Rail Project Phase I
APN: 4312-028-901; LACMTA Parcel Number WE-606
3433 Wesley Street, Culver City, CA 90232
Dear Mr. Blumenfeld:
The Exposition Light Rail Authority ("Expo Authority") is constructing Phase I of the Exposition
Light Rail Transit Project ("Project") on property owned by the Los Angeles County Metropolitan
Transportation Authority ("MTA"). The property referenced above is located within the planned
alignment of the Project and is hereinafter designated as the "Property"
The MTA is seeking to acquire the Property for the relocation of an existing street cul-de-sac
necessitated by the Project (see attached legal description and plat map describing the Property and
labeled as "Exhibits A & B").
The LACMTA hereby offers the sum of $172,000 as total just compensation for the acquisition of a
fee simple interest to the Property. This offer is conditioned upon the execution of a contract of
sale and escrow instructions. The attached Statement of Just Compensation and Appraisal
Summary outlines the basis for this offer, and the Acquisition Informational Brochure (also
attached), explains the public acquisition process and any relocation benefits to which you may be
entitled.
If the above offer is acceptable to you, please indicate your acceptance by signing in the space
provided below, and return an original signed copy of this letter to my attention. Upon receipt of
your acceptance of the purchase offer, a contract of sale and escrow instructions will be prepared
for your for execution. The MTA will pay all of the conveyance and escrow costs. All taxes and
assessments will be prorated, and possession will be delivered to the MTA at the closing of escrow.
If for any reason you do not accept the MTAts offer, please be advised that this letter and the offer
made herein are tendered under the provisions of the California Evidence Code Section 1152 as an
offer to compromise.Culver City Redevelopment Agency Offer
• July 20, 20 I 0
Page 2
This offer will expire at 5:00 P.M. on August 31, 2010. Any questions related to this Offer to
Purchase should be directed to Stephen Vollucci, the Senior Real Estate Officer assigned to this
acquisition. He can be reached by telephone at (213) 922-2408.
Sincerely,
VELMA C. MARSHALL
Deputy Executive Officer - Real Estate
: Attachments
cc: Rick Thorpe, EXPO Authority
Samantha Bricker, EXPO Authority
ACCEPTANCE
This offer dated July 20, 2010 from the Los Angeles County Metropolitan Transportation Authority
in the amount of $172, 000 for the acquisition of the Property described above is hereby accepted.
CULVER CITY REDEVELOPMENT AGENCY
By: Name: Title: Date:
Revised 02/04/2009