MISSION VIEJO : Officials to Review 2 Bids on 23-Acre Plot
With a newly completed appraisal in hand, the City Council tonight will consider two offers for a 23-acre parcel of city-owned property, a sale that would help finance a new library and Civic Center complex.
City Manager Dan Joseph declined to reveal the assessed value of the land, just north of Crown Valley Community Park, saying disclosure could compromise negotiations with two development firms.
But he acknowledged the figure differs from the results of a 1993 appraisal that set the worth of the parcel--which includes just eight acres suitable for construction--at $4.1 million.
“We had some real questions with the accuracy of the original appraisal,” Joseph said. “We’ll bring [the new appraisal] to the council and it’s up to them to give us further direction.”
Unlike last August, when the city announced a deal “in concept” for the property that subsequently fell through, there is an urgency to move forward now.
Proceeds from the sale will help pay for construction of a library at La Paz Road and Marguerite Parkway and purchase of a nearby two-acre parcel that is earmarked for a City Hall.
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