Owner Agrees to Sell Land for Park Entrance
The city of Los Angeles has agreed to pay $200,000 more than anticipated for a parcel of land near Hansen Dam Park, which will become a landscaped park entrance.
The 37,000-square-foot strip of land, located southeast of Foothill Boulevard and Osborne Street, was owned by Hayden Hamilton, who planned to build an auto repair shop on it.
Hamilton paid $650,000 for the land last year. City planners were surprised to learn that Hamilton had purchased the property because they thought they had a tentative agreement with the property’s former owner to buy it for $525,000.
An escrow agreement calls for the city to pay Hamilton $736,000, which he said pays for his planning and engineering expenditures and monthly payments made so far.
The city had threatened to seize the land through its powers of eminent domain if a price could not be agreed on.
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