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Encinitas council grants 0.96‑acre easement to Lennar for $1.8M; directs funds toward nearby improvements
Summary
The council approved an easement to Lennar over portions of Piraeus Street and Plato Place for $1.8 million and directed staff to return with cost estimates for neighborhood mitigation, including safe‑routes and utility undergrounding.
The Encinitas City Council on Dec. 4 approved granting a 0.96‑acre easement across city‑owned land on Piraeus Street and Plato Place to Lennar Homes of California for $1,800,000 and directed staff to return with estimates for improvements in the surrounding area.
City negotiators presented two appraisals obtained in 2023. The city's appraiser, Lance Dore, used an "across-the-fence" methodology and appraised the easement at $2,156,000; Lennar's appraiser, Kenneth Keggy, valued the property using constrained-parcel comparables and appraised the easement value at $224,000. Staff reported Lennar's offer at $1,800,000, which city negotiators said exceeded Lennar's appraisal and was below the city's appraisal.
Jay Schwarm, administrative services and human resources…
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