Meeting_Body
FINANCE, BUDGET AND AUDIT COMMITTEE MEETING
AUGUST 19, 2020
Subject
SUBJECT: SALE OF SURPLUS PROPERTY
Action
ACTION: APPROVE RECOMMENDATION
Heading
RECOMMENDATION
Title
DECLARING that a portion of 6111 Wilshire Boulevard (shown in Attachment A) is not necessary for use by LACMTA and is "exempt surplus land" as defined in Section 54221(f)(1) (C) of the California Surplus Land Act (the "Act").
Issue
ISSUE
LACMTA originally acquired fee simple interest in 6111 Wilshire Boulevard (the "Subject Property") for the Westside Purple Line Extension Section 1 Project (the "Project"). A portion of the Subject Property is not needed for the Project and can be declared surplus (such portion will be referred to hereinafter as the "Property"). Under the Section 54221(b)(1) of the Act, "land shall be declared either "surplus land" or "exempt surplus land", as supported by written findings, before a local agency may take any action to dispose of it consistent with an agency's policies or procedures".
Discussion
DISCUSSION
Exempt Surplus Land - Summary Findings
The Act, as amended in October 2019, provides for the disposition of "surplus land" or "exempt surplus land", as defined in the Act. "Surplus Land" means land owned in fee simple by any local agency for which the local agency's governing body takes formal action in a regular public meeting declaring that the land is surplus and is not necessary for the agency's use. As defined in Section 54221(f)(1)(C) of the Act, exempt surplus land includes "surplus land that a local agency is exchanging for another property necessary for the agency's use".
The Property will be sold to the owner of contiguous adjacent land as part of the litigation settlement authorized by the Board in closed session at its June 25, 2020 Board meeting, in connection with the acquisition of real property interests necessary for the Project.
The Property to be Exchanged
LACMTA acquired fee simple interest in the S...
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