170422
Resolution approving and authorizing an agreement for the City’s acquisition of five parcels of improved real estate, consisting of approximately 19,500 square feet in land area, including the assumption of certain existing leases, from Ares Commercial Properties, Inc., for $9,725,000; placing the property under the jurisdiction of the Recreation and Park Department, and authorizing the use of revenues from the property for property-related costs and future park planning; adopting findings under the California Environmental Quality Act for the acquisition, but requiring any future park conversion project to be subject to the review and approval of the Recreation and Park Commission following environmental review; adopting findings that the conveyance is consistent with the General Plan, and the eight priority policies of Planning Code, Section 101.1; and authorizing the Director of Property to execute documents, make certain modifications, and take certain actions in furtherance of the purchase agreement and this Resolution.
What this record is
- Amount
- $9.72M
- Runs until
- Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗
- Type
- purchase
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Read automatically from the title of the official record. The source document below is authoritative.
- Committee
- Clerk of the Board
- Introduced
- June 6, 2017
- Passed
- July 7, 2017
- Enacted
- July 7, 2017
- Enactment no.
- 261-17
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