11/27/2018 4:40:34 PM
11/27/2018 4:40:19 PM
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THE CITY OF 2 <br /> ,. "" CITY COUNCIL AGENDA REPORT <br /> pLEASA\TON <br /> December 4, 2018 <br /> City Manager <br /> TITLE: RATIFY CITY MANAGER'S EXECUTION OF CONTINGENT <br /> PURCHASE AND SALE AGREEMENT FOR THE ACQUISITION OF <br /> 4363 AND 4377 FIRST STREET; AND AUTHORIZE CITY MANAGER <br /> TO TAKE OTHER RELATED ACTIONS <br /> SUMMARY <br /> The owners of 4363 and 4377 First Street seek to sell their 18,200 square foot parcel <br /> with two commercial buildings. The site is adjacent to the City's parking lot serving the <br /> Firehouse Arts Center, and has pedestrian access to Lions Wayside Park. <br /> This property was previously discussed on August 21st and November 6th at closed <br /> sessions regarding the purchase price, terms and conditions of this potential acquisition. <br /> The City Council is now being asked to ratify the City Manager's execution of a <br /> contingent purchase and sale agreement for the acquisition of the property for two <br /> million dollars ($2,000,000). The agreement includes contingencies related to <br /> environmental review, relocation benefits for tenants, review of existing leases, <br /> condition of property, etc. If contingencies are satisfied or waived, escrow is scheduled <br /> to close by the end of the year. Upon the City's acquisition of the property, it is <br /> anticipated that the tenants would vacate the buildings, the improvements would be <br /> removed, and the City Council and Parks and Recreation Commission will consider <br /> uses for the property that improve Downtown circulation and parking, complement the <br /> adjacent Lions Wayside Park and Firehouse Arts Center, and improve the appearance <br /> of First Street. <br /> RECOMMENDATION <br /> (A) Ratify the City Manager's execution of the contingent purchase and sale agreement <br /> for the acquisition of 4363 and 4377 First Street (Attachment 1); (B) authorize the City <br /> Manager to administratively determine whether contingencies in that agreement are <br /> satisfied or waived; (C) ratify professional services agreements for Phase I <br /> environmental review and relocation consultant services; (D) authorize City Manager to <br /> negotiate relocation agreements with tenants to satisfy the requirements of California <br /> Government Code §7260 et seq.; and (E) authorize City Manager to execute all <br /> documents related to close of escrow (if contingencies are met or waived, and terms of <br /> the agreement are satisfied). <br />
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