HomeMy WebLinkAboutAGENDA REPORT 1994 0518 CC REG ITEM 08P1 �
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AGENDA REPORT
CITY OF MOORPARK
TO: Honorable City Council
FROM: Steven G. Hayes, Economic Development Manager
DATE: May 6, 1994 (CC meeting of 05/18/94)
SUBJECT: Consider Appropriation from Gas Tax Funds for Acquisition
of Property at 675 Moorpark Avenue (Moss -APN 511- 05 -06).
BACKGROUND:
The City of Moorpark has been in negotiations for the purchase of
the property known as 675 Moorpark Avenue, owned by Betty Moss.
The property will be utilized by the Public Works Department for
equipment and materials storage as an interim use until the
development plans for this area has been finalized and approved.
DISCUSSION•
This property contains approximately 10,096 square feet of land and
has a 1,333 square foot structure presently being used as a
plumbing shop. The property is zoned C -2 with frontage on Moorpark
Avenue. The property is offered at a purchase price of $170,000.00
with one half (1/2) of the cost of purchase (escrow fees and title
costs) to be paid by the owner and buyer. The terms of the
acquisition will have escrow open as soon as possible with escrow
closing within three (3) months. The three month escrow will allow
the present tenant to find a new location and relocate their
business.
FUNDING•
Since this property is proposed to be used for Public Works
purposes on an interim basis it is recommended that Gas Tax Funds
be allocated for the purchase of this property in an amount not to
exceed $172,500.
RECOMMENDATION:
Staff recommends approval for appropriation of $172,500 from Gas
Tax Funds for purchase of 675 Moorpark Avenue.
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