AGENDA TITLE:
title
Consider Adopting a Resolution Ratifying Execution of Purchase and Sale Agreement with Farmers and Merchants Bank of Central California for City-Owned Real Property Located at 219 S. School Street in Conformance with Council Approved Terms and Authorizing Interim City Manager to Execute all Related Sale Documents (CM)end
MEETING DATE:
March 20, 2024
PREPARED BY:
Luis Aguilar, Economic Development Director
recommendation
RECOMMENDED ACTION:
Consider adopting a resolution ratifying execution of purchase and sale agreement with Farmers and Merchants Bank of Central California for city-owned real property located at 219 S. School Street in conformance with council approved terms and authorizing Interim City Manager to execute all related sale documents...end
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BACKGROUND INFORMATION:
Prior to disposing of surplus property, the Surplus Land Act ("SLA"), set forth in Government Code sections ?54220-54234, requires public agencies to offer to sell or lease that property for specified uses including affordable housing. It also requires these agencies to declare the property as surplus land or exempt surplus land.
On November 17, 2021, the City Council adopted Resolution 2021-313, declaring City-owned real property located at 219 S. School Street ("City Property") as surplus land and not necessary for City use. Furthermore, on June 21, 2023, the City Council adopted Resolution 2023-139, declaring the City Property as exempt surplus land supported by written findings and authorized the City Manager to dispose of the City Property to a contiguous owner.
On August 30, 2023, a letter of intent to sell the City Property was sent by the City to the contiguous property owners which included a minimum sale price of twenty-five thousand and no cents ($25,000.00), based on a 2021 appraisal of the City Property. This effort resulted in the receipt of two offers for the City Property.
City Council discussed the prospective sale of t...
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