Vista Redevelopment Agency Acquires Additional Property
We've previously reported on the City of Vista's moving forward with the use of eminent domain to acquire the Riviera Motel and other properties in order to assemble property for an auto mall. It appears that the eminent domain dispute has now reached a resolution, as the North County Times is reporting that Vista city council approved a settlement with the motel owner and another nearby property owner.
According to the article, "VISTA: City approves $3.2 million in property purchases," the Riviera Motel owner is receiving compensation of $1.65 million for the .71-acre property, plus $345,000 for fixtures and equipment, business goodwill, and relocation (since the owner lived at the motel). The owner had previously been offered $1.65 million, so it appears he did not receive any additional compensation for the property's value. He did, however, receive the additional $345,000 for the other items of compensation. The owner is also being provided an additional $5,000 for the costs of obtaining an independent appraisal, and the redevelopment agency's promise to contribute $155,000 if the owner decides to open up a new hotel in Vista in the future.
Other property appears to still be needed for the redevelopment agency's plans.
