03 OTLQ - Offer of Just Compensation (PSE) 09-24-18ta 0aigra
- GEM of.iw DESERT —
MEMORANDUM
TO: Frank J. Spevacek, City Manager
FROM: Julie Mignogna, Management Analyst
DATE: September 26, 2018
RE: La Quinta Village Complete Streets Project Offers of Just Compensation
and Appraisal Basis of Offer for Assessor Parcel Numbers:
• 770-020-003 and 770-020-003 (Atallah) - $2,050
• 770-020-036 (Jade Properties) - $7,100
• 773-370-003 (50905 Bermudas, LLC) $8,100
• 770-123-001 (OTLQ, LLC) - $9,900 and $3,400
Attached for your signature are the Offer Letters for the properties referenced above.
Please sign the attached agreement(s) and return to Julie Mignogna for processing and
distribution.
Requesting department shall check and attach the items below as appropriate:
X Contract payments will be charged to account number: 401-0000-74010 Project Act 151603L
X Amount of Agreement, Amendment, Change Order, etc.: $30,550.00
N/A A Conflict of Interest Form 700 Statement of Economic Interests from Consultant(s) is attached with
no reportable interests in LQ or reportable interests
A Conflict of Interest Form 700 Statement of Economic Interests is not required because this Consultant
does not meet the definition in FPPC regulation 18701(2).
Authority to execute this agreement is based upon:
X Approved by the City Council on September 18 2018 (Closed Session Item No. 2)
2M-0%
City Manager's signature authority provided under Resolution No. 20+5-e*5 for budgeted expenditures
of $50,000 or less. This expenditure is $ and authorized by [Council, Director, etc]
Initial to certify that 3 written informal bids or proposals were received and considered in selection
The following required documents are attached to the agreement:
Insurance certificates as required by the agreement (approved by Risk Manager on e)
Performance bonds as required by the agreement (originals)
City of La Quinta Business License number
A requisition for a Purchase Order has been prepared (amounts over $5,000)
X A copy of this Cover Memo has been emailed to Finance (Sandra)
Revised May 2017
ta Q�W
CALIFORNIA
September 24, 2018
Mr. Wells Marvin
OTLQ, LLC
78-100 Main Street, Suite 203
La Quinta, CA 92253
Regarding: La Quinta Village Complete Streets Project
Offer of Just Compensation and Appraisal Basis of Offer
Property Located at: Southeast corner of Calle Tampico
and Desert Club Drive
Assessor Parcel No.: 770-123-001
Dear Mr. Marvin:
The City of La Quinta, (hereinafter called the "City', is proposing the construction of the of the
La Quinta Village Complete Streets - A Road Diet Project in the La Quinta Village area of the city (Project).
As presently planned, the proposed street improvements will require the purchase of a permanent street
easement over a portion of your property located at the southeast corner of Calle Tampico and Desert
Club Drive in the City of La Quinta. The specific area proposed for the easement is identified in the
attached Exhibit "A" and delineated on Exhibit "B" (Property).
Therefore, pursuant to Government Code section 7267.2, the City hereby makes a formal offer
to purchase a permanent street over the portion of your property identified above, for the sum of
$9,900.00 (Nine Thousand Nine Hundred and No/100 Dollars), which is segregated as follows:
$ 9,900.00 Permanent Street Easement (including improvements)
$ 0.00 Net Severance Damage
$ 0.00 Severance Damage — Cost to Cure
$ 9,900.00 Total Offer to Purchase (Rounded)
The amount offered is based upon a valuation study performed by the City and is explained in
the enclosed Statement of Just Compensation and Summary Statement. This offer is the full amount the
City believes to be "Just Compensation" and is not less than the approved valuation of its fair market
value. The amount of this offer does not include compensation for any relocation benefits you may be
entitled to receive. The City is offering these amounts for title to all interests the City seeks to acquire;
division of the amount among other parties having any claims of ownership, lienholders, or any
possessory or other interests in the Property will be your responsibility.
ta (2"tra
CALIFORNIA
OTLQ, LLC
September 24, 2018
Page 2
It is the City's hope that this price is agreeable to you, and that the acquisition can begin
immediately. If so, the City will begin preparation of a Purchase and Sale agreement memorializing the
terms of the proposed transfer, the form of which will be subject to approval by the City's City Council.
The City Council has already approved the amount of the offer, however.
This offer is for conveyance of the permanent street easement described above, excluding any oil, gas,
or mineral rights below the depth of 500 feet, and subject to terms and conditions set out below, and
assuming that the Property is free of any environmental contamination or Hazardous Materials, and that
it is not the subject of any ongoing environmental investigation or alleged violations of Environmental
Laws.' Payment will be made when the title to the Property vests in the City free and clear of all recorded
or unrecorded liens, encumbrances, assessments, leases and taxes, except:
1 For the purposes of this letter, the term "Environmental Laws" means any and all federal, state, regional and local laws, statutes,
ordinances, orders, rules, regulations, guidance documents, judgments, governmental authorizations, or any other requirements of
governmental authorities, as may presently exist, or as may be amended or supplemented, or hereafter enacted, relating to the presence,
release, generation, use, handling, assessment, investigation, study, monitoring, removal, remediation, cleanup, treatment, storage,
transportation or disposal of Hazardous Materials, or the protection of the environment or human, plant or animal health, including, without
limitation, the Comprehensive Environmental Response, Compensation and Liability Act of 1980 , as amended by the Superfund Amendments
and Reauthorization Act of 1986 (42 U.S.C.A. § 9601), the Hazardous Materials Transportation Act (49 U.S.C. § 1801 et seg.), the Resource
Conservation and Recovery Act (42 U.S.C. § 6901 et seg.), the Federal Water Pollution Control Act (33 U.S.C. § 1251 et seg.), the Clean Air Act
(42 U.S.C. § 7401 et seg.), the Toxic Substances Control Act (15 U.S.C. § 2601 et sec.), the Oil Pollution Act (33 U.S.C. § 2701 et sec.), the
Emergency Planning and Community Right -to -Know Act (42 U.S.C. § 11001 et seg.), the Porter -Cologne Water Quality Control Act (Cal. Wat.
Code § 13000 et sec.), the Toxic Mold Protection Act (Cal. Health & Safety Code § 26100, et Leg.), the Safe Drinking Water and Toxic
Enforcement Act of 1986 (Cal. Health & Safety Code § 25249.5 et seg.), the California Hazardous Waste Control Law (Cal. Health & Safety Code
§ 25100 et seg.), the Hazardous Materials Release Response Plans & Inventory Act (Cal. Health & Safety Code § 25500 et seg.), and the
Carpenter -Presley -Tanner Hazardous Substances Account Act (California Health and Safety Code, Section 25300 et seg.). As used in this letter,
the term "Hazardous Material(s)" includes, without limitation, any hazardous or toxic material, substance, irritant, chemical, or waste, including
without limitation (a) any material defined, classified, designated, listed or otherwise considered under any Environmental Law, including,
without limitation, as defined in California Health & Safety Code Section 25260, as a "hazardous waste," "hazardous substance," "hazardous
material," "extremely hazardous waste," "acutely hazardous waste," "radioactive waste," "biohazardous waste," "pollutant," "toxic pollutant,"
"contaminant," "restricted hazardous waste," "infectious waste," "toxic substance," or any other term or expression intended to define, list,
regulate or classify substances by reason of properties harmful to health, safety or the indoor or outdoor environment, (b) any material,
substance or waste which is toxic, ignitable, corrosive, reactive, explosive, flammable, infectious, radioactive, carcinogenic or mutagenic, and
which is or becomes regulated by any local governmental authority, any agency of the State of California or any agency of the United States
Government, (c) asbestos, and asbestos containing material, (d) oil, petroleum, petroleum based products and petroleum additives and derived
substances, (e) urea formaldehyde foam insulation, (f) polychlorinated biphenyls (PCBs), (g) freon and other chlorofluorocarbons, (h) any
drilling fluids, produced waters and other wastes associated with the exploration, development or production of crude oil, natural gas or
geothermal resources, (i) mold, fungi, viruses or bacterial matter, and 0) lead -based paint.
t(V QWk(V
CALIFORNIA
OTLQ, LLC.
September 24, 2018
Page 3
1. Taxes for the year in which the Property is purchased, which shall be cleared and paid in
the manner required by Section 5086 of the Revenue and Taxation Code, if unpaid at the
time escrow for the purchase closes;
2. Covenants, conditions, restrictions and reservations of record, that do not interfere with
the City's proposed use of the Property;
3. Easements or rights -of -way over the land for public or quasi -public utility or public street
purposes, if any; and
4. Any other interests in the Property or exceptions to title appearing on a preliminary title
report or litigation guarantee, which are accepted by the City in writing through escrow.
The City will pay all usual fees, charges, and costs, which arise out of this escrow.
As a condition of this offer, the City reserves all rights and remedies it has or may have against
you and all persons or entities who may be responsible for any environmental contamination or any
Hazardous Materials that may exist or may have existed on or migrating to or from the Property, including
all rights to seek damages or other remedies pursuant to any Environmental Laws.
Overland, Pacific & Cutler, LLC. (OPC) has been retained as the City's acquisition consultant and
will answer any questions you have regarding this offer letter and its attachments. You can reach Addiel
Flores of OPC at 760-776-1238.
If for any reason you are not satisfied with this offer of just compensation, and have additional
relevant information that you would like the City to consider regarding the value of the property proposed
to be acquired, it will be happy to do so. We would also welcome speaking with you to clarify any questions
or concerns you may have regarding the scope of the easements proposed to be acquired. If you have
such information, questions, or concerns, please contact Mr. Cutler at the number above.
In addition, you should be aware that in the event negotiations fail to result in agreement, and the City
Council ultimately decides to authorize attempted acquisition of the property through eminent domain, you
will have the right to have the amount of just compensation to be paid by the City for the easement and
CAI IFORNIA
OTLQ, LLC.
September 24, 2018
Page 4
any resulting damages fixed by a court of law. Please be advised that in such event, the terms of this
offer and the contents of this letter may be excluded from consideration as an offer of settlement, under
California Evidence Code sections 1152, 1154, or other applicable provisions of law.
In compliance with Government Code section 7267.2, included with this offer letter is an information
pamphlet describing the eminent domain process. This brochure is being provided to you for informational
purposes only and is not to be construed as legal advice.
utler, LLC.
STATEMENT OF JUST COMPENSATION
Date of Offer: September 24, 2018
Assessor's 770-123-001
Parcel:
Property OTLQ, LLC, a Delaware Limited Liability Company
Owner(s):
Property Southeast Corner of Calle Tampico and Desert Club Drive, La Quinta,
Location: California
Legal See Attached Exhibits "A" and "B"
Description:
Public Use for Permanent Street Easement
Property:
Date of Value: August 27, 2018
Estate to be Easement
Acquired:
Area to be 538 Square Feet of Permanent Street Easement
Acquired:
Highest and
Best Use: Highest and Best Use is defined as the reasonably probable and legal
use of land which is legally permissible, physically possible, and
financially feasible that results in the highest value. Highest and best use
analysis is used in the appraisal process to identify comparable properties
and, where applicable, to determine whether the existing improvements
should be retained, renovated, or demolished. The result of the highest
and best use analysis, as improved, is Commercial Development in
compliance with existing zoning
Present Use: Improved Parking Lot
Zoning: VC — Village Commercial
Improvements: Miscellaneous landscaping
Page 5
Summary of the Basis for Just Compensation
Value Estimate: Application of the Sales, Income and Cost Comparison Approaches to Value.
The Sales Comparison Approach is the preferred method of land valuation when comparable data
is available. Since the main valuation of the easement is only considering the land value, the
Income Approach and the Cost Approaches to value were deemed not to be relevant and was not
utilized in this valuation.
Sales Comparison Approach
The sales comparison approach is used to derive a value indication by comparing the property
being appraised to similar properties that have sold recently, applying appropriate units of
comparison, and making adjustments to the comparables based on the elements of comparison.
This is a preferred method of valuation when comparable sales data are available. The appraiser
identified the sales listed in Exhibit "C" attached hereto, as being most helpful when estimating the
value of the subject property:
Sales Approach Analysis:
Value of the larger parcel (land value only) in the Before
Condition pursuant to the Sales Comparison Approach: $102,060.00
Value of the Easement area pursuant to Sales Comparison
Approach (land value only): 538 sq. ft. @ $18.00 per sq. ft. $ 9,684.00
In addition, in establishing the amount believed to be just compensation, the City's appraisal
assessed whether or not there were damages and benefits to the remaining property. The basis
for this determination is whether or not the remainder had been diminished in value by reason of
the acquisition of the easement being acquired and the construction of the improvement in the
manner proposed (severance damage) and, if so, whether the same remainder had been increased
in value by reason of the construction of the improvement in the manner proposed (benefits). If
there are no severance damages, then the determination of whether there is a benefit is
inapplicable since benefits can only be used to offset severance damages under applicable
California valuation law.
In this instance, severance damages were not found.
Based upon the valuation, the amount established as just compensation is as follows:
Value of the Property Before the Taking
$102,060.00
Value of the Part Taking
$ 9,684.00
$9,684.00
Value of the Remainder Before the Taking
$ 92,376.00
Value of the Remainder After the Taking
$ 92,376.00
Severance Damage
$ 0.00
Project Benefits
$ 0.00
Net Severance Damages
$ 0.00
$ 0.00
Cost to Cure
$ 0.00
Value of Improvements
250.00
Total Just Compensation (Rounded)
$9,900.00
Valuation Conclusion: Fair Market Value of Easement, Including
Improvements and Severance Damages
$9,900.00
Page 6
Important Additional Information Regarding the City's Offer
1. In the event this offer is accepted, you are entitled to receive full payment prior to the
City taking possession of the area being purchased unless you waive such entitlement.
You are not required to pay recording fees, transfer taxes, or the pro-rata portion of real
property taxes which are allocable to any period subsequent to the passage of title or
possession, as they affect the subject area only.
2. Upon request by you, the City may offer to purchase any uneconomic a'remnant" which
is/are owned by you or, if applicable, occupied by you as a tenant and which is/are
contiguous to the land being conveyed. As used herein, "remnant" means a remainder
property or portion thereof that will be left in such size, shape, or condition as to be of
little market value.
3. All buildings, structures and other improvements affixed to the land being proposed to be
acquired, which are owned by the seller(s) herein or, if applicable, owned by you as a
tenant, are included in what the City is proposing to purchase, unless other disposition of
these improvements has been made and agreed to.
4. The amount of just compensation being offered to you was based on a fair market value
appraisal prepared in accordance with accepted appraisal procedures. FAIR MARKET
VALUE, as used in this document, and in the appraisal, is "........the highest price on the
date of valuation that would be agreed by a seller, being willing to sell but under no
particular or urgent necessity for doing so, nor obligated to sell, and a buyer, being ready,
willing and able to buy but under no particular necessity for so doing, each dealing with
the full knowledge of all the uses and purposes for which the property is reasonably
adaptable and available." (Section 1263.320 Code of Civil Procedure). The valuation of
your property has been based upon an analysis of the most recent market data for similar
uses of the properties in the immediate area. The appraiser has given full and careful
consideration to the highest and best use for development of the property and to all
features inherent in your property affecting its market value. The amount of this offer:
a. Represents the full amount of the appraisal of just compensation for the property
to be purchased;
b. It is not less than the approved appraisal of the fair market value of the property
as improved;
c. Disregards any decrease or increase in the fair market value of the real property
to be acquired prior to the date of valuation caused by the public improvement
for which the property is to be acquired or by the likelihood that the property
would be acquired for such public improvement, other than that due to physical
deterioration within the reasonable control of the owner or occupant;
d. Does not reflect any consideration of or allowance for any relocation assistance
and payments or other benefits which you may be entitled to receive under
applicable State or Federal Law or any agreement with the City.
5. The owner of a business conducted on a property to be acquired, or conducted on the
remaining property which will be affected by the purchase of the required property, may
be entitled to compensation for the loss of goodwill. Claims for loss of business goodwill
are governed by Code of Civil Procedure Section 1263.510, a copy of which is attached.
Entitlement to such an award is contingent upon the business owner's ability to prove
such loss in accordance with the provision of Sections 1263.510 and 1263.520 of the Code
of Civil Procedure. This offer does not reflect any amount of compensation attributable to
Page 7
any loss of business goodwill. If you would, like the City to consider whether goodwill
should be evaluated as a part of this offer, it will do so. Such an evaluation will require
you to provide certain information to the City, including detailed financial information and
tax returns. Such an evaluation usually also requires an interview with the owner/operator
of the business.
6. Pursuant to Civil Code of Procedure Section 1263.025, should you elect to obtain an
independent appraisal, the City will reimburse you for the actual reasonable costs up to
$5,000 subject to the following conditions:
a. You, not the City must order the appraisal. Should you enter into a contract with
the selected appraiser, the City will not be a party to the contract.
b. The selected appraiser must be licensed with the Office of Real Estate Appraisers
(OREA).
c. Appraisal cost reimbursement requests must be made in writing, and submitted
to the City within 90 days of the earliest of the following dates: (1) the date the
selected appraiser requests payment from you for the appraisal; or (2) the date
upon which you, or someone on your behalf, remits full payment to the selected
appraiser for the appraisal. Copies of the contract (if a contract is made), appraisal
report, and invoice for completed work by the appraiser must be provided to the
City concurrent with submission of the appraisal cost reimbursement request. The
cost must be reasonable and justifiable.
7. If you ultimately elect to reject the City's offer for your property, you are entitled to have
the amount of compensation determined by a court of law in accordance with the laws of
the State of California.
8. Because the City's public use for your property is scheduled to begin as soon as the City
acquires the necessary property interests needed for the proposed project, and within two
years of the acquisition of the subject property, the City does not offer a leaseback
agreement for your property being acquired pursuant to Code of Civil Procedure Section
1263.615.
Page 8
EXHIBIT "A"
LEGAL DESCRIPTION
RIGHT-OF-WAY
APN 770-123-001 — OLD TOWN LA QUINTA
IN THE CITY OF LA QUINTA, COUNTY OF RIVERSIDE, STATE OF CALIFORNIA,
BEING A PORTION OF LOT 61 OF DESERT CLUB TRACT UNIT NO. 4, AS SHOWN
BY MAP ON FILE IN BOOK 21, AT PAGE 60, OF MAPS, OFFICIAL RECORDS OF SAID
COUNTY, LOCATED IN THE NORTHWEST QUARTER OF SECTION 6, TOWNSHIP 6
SOUTH, RANGE 7 EAST, SAN BERNARDINO MERIDIAN, MORE PARTICULARLY
DESCRIBED AS FOLLOWS:
BEGINNING AT THE MOST SOUTHWESTERLY CORNER OF THE PROPERTY
DESCRIBED BY GRANT DEED RECORDED MARCH 17, 1992 AS INSTRUMENT NO.
090772, OFFICIAL RECORDS OF SAID COUNTY;
THENCE SOUTH 89'41'15" EAST, ALONG THE SOUTHERLY LINE OF SAID
INSTRUMENT NO. 090772, A DISTANCE OF 6.83 FEET;
THENCE NORTH 42'53'50" EAST, ALONG THE SOUTHERLY LINE OF SAID
INSTRUMENT NO. 090772, A DISTANCE OF 8.47 FEET TO THE BEGINNING OF A
NON -TANGENT CURVE, CONCAVE EASTERLY, HAVING A RADIUS OF 28.00 FEET,
A RADIAL LINE TO SAID POINT BEARS NORTH 75'08'01" WEST;
THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL
ANGLE OF 22'56'03", AN ARC DISTANCE OF 11.21 FEET;
THENCE SOUTH 08'04'04" EAST, A DISTANCE OF 10.84 FEET TO THE BEGINNING
OF A TANGENT CURVE, CONCAVE WESTERLY, HAVING A RADIUS OF 100.00
FEET;
THENCE SOUTHERLY ALONG THE ARC OF SAID CURVE, THROUGH A CENTRAL
ANGLE OF 08'04'04", AN ARC DISTANCE OF 14.08 FEET;
THENCE SOUTH 00'00'00" WEST, A DISTANCE OF 14.11 FEET TO THE BEGINNING
OF A NON -TANGENT CURVE, CONCAVE NORTHEASTERLY, HAVING A RADIUS OF
20.00 FEET, A RADIAL LINE TO SAID POINT BEARS SOUTH 16'02'03" WEST, SAID
POINT ALSO BEING ON THE SOUTHERLY LINE OF SAID LOT 61;
THENCE NORTHWESTERLY ALONG THE ARC OF SAID CURVE AND THE
SOUTHWESTERLY LINE OF SAID LOT 61, THROUGH A CENTRAL ANGLE OF
74'01'47", AN ARC DISTANCE OF 25.84 FEET;
THENCE NORTH 00'03'50" EAST, ALONG THE WESTERLY LINE OF SAID LOT 61, A
DISTANCE OF 24.58 FEET, TO THE POINT OF BEGINNING;
1 OF 2
Page 9
EXHIBIT "A"
LEGAL DESCRIPTION
RIGHT-OF-WAY
APN 770-123-001 — OLD TOWN LA QUINTA
SUBJECT TO EXISTING EASEMENTS, COVENANTS, RIGHTS AND RIGHTS -OF -
WAY OF RECORD,
CONTAINING 538 SQUARE FEET OR 0.012 ACRES MORE OR LESS.
AS DEPICTED ON EXHIBIT "B" ATTACHED HERETO AND MADE A PART HEREOF.
PREPARED BY OR UNDER THE DIRECTION OF:
CKAW�B A HAtns
CHARLES R. HARRIS P.L.S. 4989
1. Ha. +869 1
DATED: O
2OF2
Page 10
EXHIBIT 'BN
RIGHT-OF-WAY
APN 770-123-001 - OLD TOWN LA QUINTA
SEC. 6, T.6S., R.7E., SBM
MOST SW'LY
COR. R/W
DEDICATION
2s'
CALLE TAMP IC9-4�`
1 R/W DEDICATION PER INST, NO.
0 / 090772. REC. 03/17/1992, O.R.
/ S'LY UNE R/W �L
+ DEDICATION
Ij 7N 5'08'01' W
fir}7PN
OT 61 �1>1
21 /60 ,� ro
30-123-001
W AREA�4,�'.
538 SO. FT.
0.012 AC.
'03" W ~ - -
MANY
0' 40' 80'
SCALE 1 "-40'
�T uO
s
Nm 4187
9 O
DATED: -2 / g M
CURVE DATA
NO.
DELTA
RADIUS
I LENGTH
C1
2756'03'
28'00'
11.21'
C2
08'04'04
100.00
14.08
C3
74'01 47
20.00
25.84'
LINE DATA
NO.
BEARING
LENGTH
L7
5 8W41 15 E
6'83
L2
N 4753 50 E
8.47
L3
S 08'04 04 E
10.84
L4
S 00'00 00 W
14.11
L5
N 0703 50 E
Z4.58
IDMSA CONSULTING, INC
PLANNING ■ C m ENGNEERING
LAND SURVEYING
J.N. 2396 SHEET 1 OF 1
Page 11
Exhibit "C"
Comparable Listing and Sales
1. COMP ADDRESS
Property Type
No Situs Address. APN:
Undeveloped
Commercial
770-153-002 (Sale)
Buyer: Nisha Jackson
Property
Zoning:
VC— Village Commercial
Seller:
Kenneth A. Schork, et.
al.
Sale Date:
04/12/2017
Confirmed:
Public Records/Broker
George Huston
Sale Price:
j $150,000.00
Lot Size:
11,633 sq. ft. (calculated
per assessor's
dimensions)
Price per SF:
$12.89
Property Type Undeveloped
Commercial
Property Zoning: VC —Village Commercial
Escrow Date: Currently in escrow
Escrow Price: $175,000
Lot Size: 11,633 sq. ft. (calculated
per assessor's
dimensions)
Property Type ' Undeveloped
Commercial
Property VC —Village Commercial
Buyer: I I N/A
Seller:
Confirmed:
Broker
I Nisha Jackson
George Huston,
Broker
Price per SF: $15.04
U Buyer: Old Town Artisan
Studio, Inc.
Seller: J B&H La Quinta LLC
Zoning:
Sale Date: 10/26/2016
Sale Price: $209,500.00
Lot Size: 21,160 sq. ft. (calculated
per assessor's
dimensions)
Confirmed: Buyer and Public
Records
I
Price per SF: $9.90
Page 12
Exhibit "T" Continued
4. COMP ADDRESS 51355 Desert Club Drive.
APN: 770-152-016 (Sale)
Property Type Undeveloped
Buyer: Nisha Marie Jackson
Commercial
Property VC —Village Commercial
Seller: Russ Clark
Zoning:
Confirmed:
Public Records
Sale Date: 02/06/17
Sale Price: $300,000
Lot Size: 14,375
Price per SF:
$20.87
5. COMP A..• A•
Property Type Undeveloped Buyer: N/A
Commercial
Property VC —Village Commercial Seller: Parker Family Trust
Zoning:
Listing Date: 12-20-2017 Confirmed: Lisa Capone, Listing
Broker
Listing Price: $315,000 (Reduced from
$350,000)
Lot Size:
15,163 sq. ft.
EF—Price
per SF:
$20.77
Property Type Undeveloped Buyer: N/A
Commercial
Property Zoning:
VC- Village Commercial
Seller:
Rick and Shelly
Morris
Listing Date:
12/01/2017
Confirmed:
Listing Agent Office
La Quinta Palms RE
Listing Price:
$229,500
Lot Size:
10,057 sq. ft.
Price per SF:
$22.82
Page 13
Loss of Goodwill ,
California law provides that under the circumstances detailed below, a business
owner may be compensated for a loss of goodwill. Section 1263.510 of California
Code of Civil Procedure states:
(a) The owner of a business conducted on the property taken, or on the
remainder if such property is part of a larger parcel, shall be compensated for
loss of goodwill if the owner proves all of the following:
1. The loss is caused by the taking of the property or the injury to the
remainder;
2. The loss cannot reasonably be prevented by a relocation of the
business or by taking steps and adopting procedures that a reasonably prudent
person would take and adopt in preserving the goodwill;
3. Compensation for the loss will not be included in payments under
Section 7262 of the Government Code; and
4. Compensation for the loss will not be duplicated in the
compensation otherwise awarded to the owner.
(b) Within the meaning of this article, "goodwill" consists of the benefits that
accrue to a business as a result of its location, reputation for dependability, skill
or quality, and any other circumstances resulting in probable retention of old or
acquisition of new patronage.
Page 14