City to Return Part of Price It Got for Land
The city will return about $500,000 of the $3.5 million it was paid for land slated for a housing development because of unstable slopes on the property, officials said this week.
City Manager Dan Joseph said the developer will have to cut into slopes on the property at a sharper angle than expected, which means that stabilizing the hillside will be more expensive that first projected.
And with less land to work with, the developer will not be able to build all of the 200 units planned for the 8-acre site on Los Altos, just off Crown Valley Parkway.
The City Council agreed to a rebate of $500,000 to builder Mark-Taylor Inc. of Scottsdale, Ariz., after the city receives a check for the land sale.
Joseph said the city expects site plans for the project to be submitted to City Hall next week.
Part of the city’s proceeds from the deal will be used to help pay for the $6-million library being planned at Marguerite Parkway and La Paz Road.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
