SUBJECT: Approval of Purchase and Sale Agreement Between the City of Merced (Seller) and Valley Children’s Healthcare (Buyer) for the 4.54 Acre Parcel Located at 301 W. Yosemite Ave., Merced, CA in the Amount of $2,100,000 REPORT IN BRIEF Considers approving a Purchase and Sales Agreement for the sale of a City owned 4.54 acre parcel located at 301 W. Yosemite Avenue to Valley Children’s Healthcare for the development of a pediatric primary and specialty care medical office building. The Agreement contains escrow instructions for the sale of the property. RECOMMENDATION City Council - Adopt a Motion: A. Approving the purchase and sale agreement between the City of Merced and Valley Children’s Healthcare for 301 W. Yosemite Avenue (Assessor’s Parcel Number 231-040-021); and, B. Authorizing the City Manager or the Assistant City Manager to execute all the necessary documents; and, C. Authorizing the Finance Officer to make the necessary budget adjustments.

Consent Item Passed Introduced February 21, 2019

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Committee: City Council/Public Finance and Economic Development Authority/Parking Authority
Introduced: February 21, 2019
On agenda: March 4, 2019
Passed: March 4, 2019