Negotiations for this Property have been ongoing since the start of this year, and the status of their negotiations are discussed in more detail below. Prior to initiating negotiations the Property was appraised by an independent fee appraiser at the request of the Redevelopment Agency, and the appraisal was reviewed and approved by Agency consultant and staff. The City s offer was for the full amount of the approved appraisal. Subsequent discussions by the Agency s consultant have not been successful. To date, no acceptable counter proposals have been received from the owners or their legal representatives.
Timely settlement appears unlikely.
Additional salient facts concerning the Property are shown on Attachment No. 2. A site map of the area is shown on Attachment No. 3. The proposed construction of roadway and other infrastructure improvements is required to accomplish the City's economic development goals as stated in the General Plan and the Edenvale Redevelopment Plan. The EIR analyzed the impacts of the potential development of Edenvale, including the area south of Silver Creek Valley Road. The EIR described mitigation measures necessary to sustain the potential development of this area.