HomeMy WebLinkAbout1994-09-27 - AGENDA REPORTS - RAIL STATION APPRAISALSAGENDA REPORT
City Manager Approv
Item to be presented by:
Jeff Kolin, D u y City Manager
CONSENT CALENDAR �/
DATE: September 27, 1994
SUBJECT: BUDGET APPROPRIATION RAIL STATION APPRAISALS
DEPARTMENT: Public Works
BACKGROUND
The City currently maintains two Metrolink Rail Stations. This first, established in 1993 is
located on Soledad Canyon Road. The second, established during the first weeks of the
Northridge Earthquake is located on Via Princessa.
Staff is currently considering various options on how to proceed with the acquisition of these
two stations. A land appraisal would provide vital information to determine the fair market
value of these properties. Staff has obtained proposals form three appraisal companies for the
two stations. The costs of these appraisals range between $4,000 for the Via Princessa Station
and $8,000 for the Soledad Canyon Road Station for a total of $12,000.
Staff has identified sufficient revenues using unexpected Prop. C Recessionary funds allocated
to the City from the MIA. Staff recommends appropriating these funds to pay for the cost of
the rail station appraisals.
RECOMMENDATION
Direct the staff to increase Transit account number 55-7020-227 by $12,000 from Transit Fund
Balance for the cost of the two appraisals, and authorize City Manager to execute contract for
appraisals.
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