Sale of City-Owned Farmland Approved by Placentia Council
The City Council has approved the sale of 4.92 acres of undeveloped, city-owned land just north of the Civic Center.
The city bought the land, which is being used as a strawberry farm, for $425,000 in 1975 and will sell it for an estimated $2 million or more, Mayor Michael L. Maertzweiler said.
When the city bought the property from Founders K Corp., it was being used as an orange grove.
Founders K Corp. is developing a housing tract on a 19-acre parcel just north of the city property. Maertzweiler said that project is expected to boost the value of the city land for additional housing.
“We feel that in conjunction with a development, that the highest and best dollar for the property would be at the time of development” of the other parcel, Maertzweiler said.
Without discussion, the council voted 4 to 0 Tuesday night to sell the parcel. Councilwoman Maria Moreno was absent.
Public notice that the property is available for sale will be posted Tuesday, according to a Planning Department report.