OCEANSIDE
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After more than a decade of start-and-stop negotiations, the Oceanside City Council has agreed to sell the land under the 17-story Marina Towers condominiums, one of the tallest buildings in North County.
The council voted 4-1 Wednesday night to sell the land to the condo homeowners association for $5 million.
Councilman Rocky Chavez opposed the move, saying the city could be losing money, based on the potential value of the 67 condominiums in the building that overlooks Oceanside Harbor.
“We are selling our future assets,” Chavez said. “It's not the prudent thing to do for the city.”
Opponents of the sale are expected to appeal the council decision to the California Coastal Commission.
Two years ago, 33 speakers addressed the topic; 13 spoke at Wednesday's meeting. Many were owners of Marina Towers condos.
Since the building was constructed in 1975, the homeowners association has owned the structure, while the city retained ownership of the 1-acre parcel.
“This is the people's land, and I think the people should vote on it,” opponent Pamela Myers said.
Association members said that with only 28 years left on their lease with the city, they could not get mortgages and wanted to pass their property on to heirs.
Condo owner Steven Kradjian held up a picture of his 2-year-old daughter, saying he wanted her to own his place some day.
In addition to paying the $5 million sale price, the association has promised to spend $500,000 over the next seven years on exterior improvements to the building.
City officials have talked about various ways to spend the $5 million, including on a new fire station or beach improvements. Mayor Jim Wood said the funds may be needed for basic services if the state withholds money from cities to lessen its budget troubles.
Wood said he had just received an e-mail from the League of California Cities warning of new state attempts to keep municipal funds.
According to the deal, the homeowners' association will pay for legal fees and delays caused by expected litigation or appeals to the Coastal Commission.
City Attorney John Mullen said the commission has no say in the actual sale but does have jurisdiction over changes to the lot lines. To complete the deal, the city had to adjust the parcel boundary so it does not include tidelands, which can't be sold.
That lot-line adjustment is a technicality that is subject to appeal to the commission.
Lola Sherman: (760) 476-8241; lola.sherman@uniontrib.com
