HomeMy WebLinkAbout0517.000--
September 2~, 1990
HONORABLE CITY COUNCIL
Palo Alto, California
Kember. of the council:
".',
Attention: Policy and Procedures Committee
'.HeLp PllOPOty "'PI D'PDATI
•• port i. Brief
111is is an informatIon report to infor-a the Council as to the
status of the possible trade of City-owned property for property
owned by Jacqueline Bressler~ No council action is required.
JaAAgroupd
Negotiations for the possible trade. of city-owned property for
Jacqueline Bressler piroperty are proceeding. The City and Ms.
Bressler have each hired appraisers tb establish the value of her
14 acre property ar~ the value of a portion of the 77 acre city
owned land. The plan is to establish a value for one acre of city
owned land and then negotiate hoW' many City-owned one-acre raw land
parcels 'Would equal the value of M.s. Bressler's property.. The
appraisers have until December 15 to establish the values. It is
anticipatecS that other professional services may be required before
both parties reach a decision. Such services would be required to
establish the cost of changing the raw land. to land ready for
development. In sllmmary, negotiations are continuing and staff
will keep council inf~rmed of any si9nificant progress.
Respectfully SUbmItted,
(11!~«J;/I14!1~
WILLIAX w. ;;;~
Manag-er ~ Real Property and
Acting Einance Director
Past Starf Reports: CMR:365:0
cc: Jacqueline Bressler
Thomas French~ Attorney
CXR:511:0
Manager
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