PREPARED BY: Charles Ching DATE OF MEETING: 09/03/19
SUBJECT:
TITLE
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN PABLO APPROVING AND AUTHORIZING EXECUTION OF A PURCHASE AND SALE AGREEMENT BY AND BETWEEN THE CITY OF SAN PABLO AND THE BLAISDELL TRUST FOR THE PURCHASE AND SALE OF PROPERTY LOCATED AT 1701 BUSH AVENUE, SAN PABLO, CALIFORNIA (APN 410-275-011-6) AND APPRORIATING $130,000 FROM THE GENERAL FUND DESIGNATED RESERVE / WILDCAT CREEK TRAIL SOIL STORAGE PROJECT TO THE ECONOMIC DEVELOPMENT BUDGET TO COMPLETE THE PURCHASE
Label
CITY MANAGER RECOMMENDATION
Recommendation
Adopt Resolution
Body
Compliance statements
Building a Healthy Community is a City Council Major Policy Goal under the FY 2019-21 City Council Priority Workplan, effective March 1, 2019.
CEQA Compliance Statement
The execution of a Purchase and Sale Agreement is not a project requiring environmental review under the California Environmental Quality Act (“CEQA”). Before the City considers a particular project on the property, the appropriate review under CEQA will be undertaken.
BACKGROUND
In March of 2015, the City initiated an update to its Zoning Code (“Zoning Update”) to ensure consistency with its General Plan. The Update included text and map amendments as well as a rezoning of certain properties.
1701 Bush Avenue (“Property”) is a vacant 5,760 square foot property at the corner of Bush Avenue and 17th Street. The Property was rezoned from R-1 (Single Family Residential) to OS (Open Space) as part of the 2015 Zoning Update due to the lack of open space throughout the City and possible use as a future pocket park.
The Property recently become available for purchase. The City commissioned a Real Estate Broker for a broker’s opinion of value based on comparable vacant lots with the prior R-1 zoning for the property. Based on that information, the City offered the property owner $122,600 to purchase 1701 Bush Avenue, which the seller accepted.
The proposed Purchase and Sale Agreement (“PSA”) calls for the City’s purchase of the Property “as-is”. The City is responsible for transfer taxes and title and escrow fees.
The proposed resolution approves the City’s purchase of the Property and authorizes the City Manager to execute a Purchase and Sale Agreement and any other necessary documents to effectuate the purchase and sale, including a Certificate of Acceptance.
The proposed resolution also authorizes the use of General Fund Designated Reserves appropriated for the Wildcat Creek Trail Soil Storage Project for the purchase of the Property which will be supplanted when future General Fund Balance is available.
FISCAL IMPACT
The purchase price of the Property is $122,600, plus transfer taxes and title and escrow fees and related transaction costs, estimated not to exceed $130,000. The City will appropriate $130,000 from General Fund Designated Reserves currently allocated for the Wildcat Creek Trail Soil Storage Project to the “land purchase” line-item in the Economic Development budget (100-1320-47150-BUS-AVE) for the purchase of the Property. City Council will have an opportunity to replenish the Wildcat Creek Trail Soil Storage Project when future General Fund fund balance becomes available.