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Seaside agrees to buy 1.62-acre MST parcel in Campus Town for $270,000; developers to reimburse costs
Summary
Council approved acquiring a 1.62-acre parcel from Monterey Salinas Transit for $270,000 plus costs to be reimbursed by Campus Town developers; staff said the parcel was appraised at $470,000 but the purchase price accounts for demolition and remediation estimated at roughly $170,000 plus contingency.
The Seaside City Council voted Dec. 4 to acquire approximately 1.62 acres from the Monterey Salinas Transit District for $270,000 plus associated escrow and transaction costs. City Attorney Sherry Damon explained the as-is purchase and noted a deed restriction limiting future uses to transportation-oriented amenities,…
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