RES 02022 - Laserfiche WebLink

J. Because the Property's isolation and its undeveloped state, it has been a source of complaints from the adjoining property owners; for example, one property owner believes that transients use the property to trespass onto his property; another property owner believes the accumulation of wood and other debris on the property poses a rodent and fire hazard. K. Disposing of the Property would likely rid the City of receiving complaints about the condition of the Property. L. In April 1999 City Council considered whether it should declare this parcel as surplus; after taking public input and discussing the matter at length, Council referred the matter to the Downtown Specific Plan Committee and to the Parks and Recreation Commission for their recommendations, if any, whether the Property could logically be used for trails/open space purposes. M. The Parks and Recreation Commission concluded that the Property was not suitable to trails/open space. N. The Downtown Specific Plan Committee referred the matter to its Parks and Trails subcommittee which likewise recommended that the Property was not suitable for trails/open space; the Committee as a whole considered that (and other) recommendations on October 2, 2000 and recommended that the Property not be used for trails/public open space due to its relationship to the Arroyo and because extending the trail east to First Street is problematic due to ownership of this portion of the trail. O. On November 7, 2000 the City Council declared the Property surplus, directed staff to offer the Property to the appropriate public agencies and if those agencies were not interested, then to offer the Property for sale to Purchaser, by averaging the original purchase price in 1968 ($9,103), inflated to today's dollars ($38,359) and an appraised value of the property. P. The City has had the Property appraised by Robert Denton, MAI, a Certified General Real Estate Appraiser, who has opined the estimated market value of the Property is $52,000. Q. City desires to sell, and Purchaser desires to purchase, the Property on the terms and conditions set forth hereim ARTICLE I - PURCHASE 1.1 Purchase/Closing Date. City shall sell the Property to Purchaser, and Purchaser shall purchase the Property from City, on all of the mutual terms, covenants and conditions hereinafter set forth. City and Purchaser shall mutually agree on the closing date ("Closing Date"); provided, however, and except as provided in paragraph 1.5, in no event shall the Closing Date occur on a date later than April 30, 2002. If the Property has not been transferred to Purchaser by the outside Closing Date, this Agreement shall terminate and neither party shall have any further rights or obligations thereunder, except as expressly provided herein. 2