DATE:
September 24, 2024
06
TO:
Board of Supervisors
SUBJECT
Title
APPROVE COMPENSATION AGREEMENT REGARDING 6901-6921 LINDA VISTA ROAD (LINDA VISTA PROPERTY) RETAINED BY THE CITY OF SAN DIEGO FOR FUTURE DEVELOPMENT (DISTRICTS: ALL)
Body
OVERVIEW
On February 1, 2012, California redevelopment agencies were dissolved, and successor agencies were appointed to wind down redevelopment affairs, including the disposition of real estate owned. ABX1 and AB 1484 (collectively known as the "Dissolution Act") provide the methods of disposition available to successor agencies after a Long Range Property Management Plan (LRPMP) is prepared and approved.
The California Department of Finance approved a final, amended version of the City of San Diego (City) Successor Agency's LRPMP on October 15, 2015. One of the properties included in the approved LRPMP is the property commonly referred to as 6901-6921 Linda Vista Road (APNs 431-320-19, and 15). The Linda Vista property is comprised of a vacant lot of approximately 17,115 square feet, and an approximately 52,708 square feet lot improved with a 29,000 square feet multi-tenant retail center including a roller-skating facility, and other uses. This property has been retained by the City for future development in accordance with its LRPMP.
According to California Health and Safety Code Section 34180, a compensation agreement must be established between the city retaining ownership of a future development site and the other affected taxing entities associated with the former redevelopment area, wherein the affected taxing entities receive payments from the city in proportion to their shares of the base property tax for the value of the property retained by the city for future development. The County of San Diego (County) is one such affected taxing entity associated with the Linda Vista property. Today's action requests to approve the compensation agreement between the City and the County, and direct the Clerk of the B...
Click here for full text