Pasadena : Depot Agreement OKd
A joint agreement with the Los Angeles County Transportation Commission to purchase the Santa Fe Railway depot and property along Raymond Avenue was approved Tuesday by the Board of Directors.
The property and two vacant parcels at the northwest corner of Arroyo Parkway and Del Mar Boulevard were appraised last year at $6.8 million. The city and county want to acquire them to develop a rail or commuter system.
Under the agreement, Pasadena would pay 32%, or almost $2.2 million, to own 100% of the station site and 2% of the vacant parcels.
However, Santa Fe has rebuffed purchase efforts by both government entities and has instead indicated a preference to sell to developers. The city began condemnation proceedings last summer but has been attempting to reach a settlement.
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