HomeMy WebLinkAbout2007-12-11 - AGENDA REPORTS - PLACERITA CYN PRESERVATION (2)CONSENT CALENDAR
DATE:
Agenda Item: Z'2
CITY OF SANTA CLARITA
AGENDA REPORT
City Manager Approval
Item to be presented by
December 11, 2007
e. /
SUBJECT: PRESERVATION OF 140 +/- ACRES OF REAL PROPERTY,
PLACERITA CANYON AREA, ASSESSOR'S PARCEL NOS.
2848-012-085 AND 2848-011-010
DEPARTMENT: Public Works
RECOMMENDED ACTION
City Council authorize the City Manager to execute all documentation to authorize the
purchase of 140 +/- acres of real property located in Placerita Canyon, Assessor's Parcel Nos.
2848-012-085 and 2848-011-010.
2. Approve the expenditure of $150,000 from Account No. R0002303, which includes $75,000
for immediate deposit into escrow and the remaining $75,000 for anticipated costs to be
incurred during escrow, including due diligence investigations and- consultant and attorney
fees.
BACKGROUND
In September 2007, the City entered into negotiations to purchase approximately 140 acres in
Placerita Canyon within the Angeles National Forest from Placerita Land and Farming Company,
Assessor's Parcel Nos. 2848-012-085 and 2848-011-010. Purchase of this property will enhance
the City's continuous efforts to preserve open space and improve connectivity with existing
natural areas. The purchase price of the property is $2,500,000.
This property is located near. the Placerita Canyon State Park and Nature Center, and is within.the
Angeles National Forest. This acquisition is consistent with the goals and policies of the City's
General Plan.
The total estimated cost to purchase this property is $2,575,000, which includes $75,000
estimated costs for escrow, title, and due diligence activities, including the consultant and
IAN[ P NMED
attorney fees, as required. During the escrow period, staff will continue to review additional
funding sources. Prior to the close of escrow at a City Council meeting date yet to be determined,
staff will request approval to appropriate the additional funds necessary for the balance of the
purchase price.
ALTERNATIVE ACTIONS
1. City Council may direct staff to cease purchase of the property.
2. Other actions as determined by the City Council.
FISCAL IMPACT
There will be an immediate deposit of $75,000 into escrow, and the remaining $75,000 will be
used for costs associated with necessary due diligence, and title and escrow activities, including
consultant and attorney fees incurred during the escrow period. The amount of $150,000 from
the Environmental Mitigation Land Bank and Acquisition Account No. R0002303 will cover
these initial costs. Any remaining funds not utilized during the escrow period will be applied
toward the balance of the purchase price.
ATTACHMENTS
Location Map