CC 2014-10-28_08.f. Reso to Close Escrow Old Ranch Rd Lot 1 NRROyO
INCORPORATED 92
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JULY 10. 1911
C, 41FORN`P MEMORANDUM
TO: CITY COUNCIL
FROM: STEVEN ADAMS, CITY MANAGER
SUBJECT: CONSIDERATION OF RESOLUTION TO CLOSE ESCROW ON SALE
OF PARCEL 007-011-052 ON OLD RANCH ROAD
DATE: OCTOBER 28, 2014
RECOMMENDATION:
It is recommended the City Council adopt a Resolution authorizing the sale of Parcel
007-011-052 for $289,000 and authorizing the City Manager to execute final sale
documents.
IMPACT ON FINANCIAL AND PERSONNEL RESOURCES:
The sale of the lot is intended to generate revenue for construction of the Police
Station improvements. The net revenue anticipated from the sale is projected to be
approximately $274,000, which will exceed the revenue estimates for the Police
Station upgrade project when combined with the revenue from.the sale of Lots #2
and #3.
BACKGROUND:
At the August 12, 2014 meeting, the City Council approved the Vacant Land
Purchase Agreement and Joint Escrow Instructions for sale of Parcel 007-011-052
for $289,000, which is due to close escrow on October 31St
ANALYSIS OF ISSUES:
The title company has notified the City that they need a Resolution approving the
sale and authorizing the City Manager to execute the sale documents.
ALTERNATIVES:
The following alternatives are presented for consideration:
• Adopt the Resolution;
• Direct staff to request a delay in closing escrow; or
• Provide staff other direction.
Item 8.f. - Page 1
CITY COUNCIL
CONSIDERATION OF RESOLUTION TO CLOSE ESCROW ON SALE OF
PARCEL 007-011-052 ON OLD RANCH ROAD
OCTOBER 28, 2014
PAGE 2 of 2
ADVANTAGES:
Approval of the sale will generate important revenue for the Police Station upgrade
project. The property is being purchased by a local family and the home should be a
valuable addition to the community.
DISADVANTAGES:
No disadvantages have been identified.
ENVIRONMENTAL REVIEW:
Environmental review was accomplished through the subdivision process.
PUBLIC NOTIFICATION AND COMMENTS:
The agenda.was posted in front of City Hall on Thursday, October 23, 2014 and on
the City's website on Friday, October 24, 2014. No comments were received.
Item 8.f. - Page 2
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ARROYO GRANDE AUTHORIZING THE SALE OF
PARCEL 007-011-052 ON OLD RANCH ROAD
WHEREAS, a portion of property owned by the City on West Branch Street and
designated for a proposed Recreation Center project was deemed unnecessary for the
Recreation.Center project; and
WHEREAS, the portion of property, located on Old Ranch Road, was subdivided in to
four lots; and
WHEREAS; the City Council has deemed it in the best interest of the City to sell three
of the four lots to generate revenue for the Police Station upgrade project; and
WHEREAS, at the August 12, 2014 meeting, the City Council approved the_Vacant
Land Purchase Agreement and Joint Escrow Instructions for sale of Parcel 007-011-052
for $289,000, also referred to as "Lot #1", which is due to close escrow on October 31,
2014; and
WHEREAS, a formal resolution approving the sale and designating the individual
responsible for executing documents is necessary.
NOW THEREFORE, BE IT RESOLVED that the City Council of the City of Arroyo
Grande approves the sale of Parcel 007-011 7052 for $289,000 to Adam R. Lyman and
Olivia L. Lyman and authorizes the City Manager to execute final sale documents.
On motion of Council Member , seconded by Council Member ,
and by the following roll call vote, to wit:
AYES:
NOES:
ABSENT:
the foregoing Resolution was passed and adopted this day of , 2014.
Item 8.f. - Page 3
RESOLUTION NO.
PAGE 2
TONY FERRARA, MAYOR
ATTEST:
KELLY WETMORE, CITY CLERK
APPROVED AS TO CONTENT:
STEVEN ADAMS, CITY MANAGER
APPROVED AS TO FORM:
TIMOTHY J. CARMEL, CITY ATTORNEY
Item 8.f. - Page 4