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19C - RFP FOR SALE OF PROPERTIES
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19C - RFP FOR SALE OF PROPERTIES
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2/28/2019 7:28:20 AM
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2/28/2019 7:24:30 AM
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City Clerk
Doc Type
Agenda Packet
Agency
Public Works
Item #
19C
Date
3/5/2019
Destruction Year
2024
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Approve Process for Sale of Exempt Remnant Properties <br />March 5, 2019 <br />Page 2 <br />Legal Authority to Dispose of City -Owned Parcels <br />Article V, Section 2-706 of the SAMC governs the sale of real property by the City, and contains <br />provisions for sale to the highest bidder. For substandard parcels that do not meet the minimum <br />zoning requirements for development, Article V, Sections 2-706.1 and 2-709 allow for the sale of <br />any parcel of City -owned real property by direct negotiation with adjacent property owner. If direct <br />negotiations for sale of property to adjacent property owners are not successful, staff will include <br />these substandard property slivers in a subsequent disposition RFP. <br />Activation of Exempt Properties for Disposition <br />Staff from the Community Development, Planning and Building, and Public Works Agencies <br />evaluated the various methods for disposition and is recommending the issuance of an RFP. The <br />RFP process, versus alternative methods, is preferred because it ensures that the City receives <br />maximum value, in terms of public and economic benefits to the community. The RFP process <br />provides the opportunity for a greater response incorporating meaningful land use and <br />development, while requiring proposers to address all City requirements in a clear and realistic way <br />when presenting an offer. <br />Proposed RFP submittal requirements and criteria for evaluation are comprised of the following: <br />• Project Narrative & Preliminary Site Plan for Proposed Development <br />• Bid Amount and Bond Verification <br />• Fiscal and Economic Benefit Analysis <br />• Project Specific Timeline(s) <br />If approved, the RFP will be released at the end of February 2019 with a five-week deadline for <br />submittals. The anticipated award date for this RFP is May 2019 following proposal evaluations <br />and negotiations with selected parties. <br />The estimated economic development benefits that will occur as a result of activation of these <br />vacant lots will promote revenue generating development and increase local workforce base. <br />Additionally, disposing of these exempt properties will generate sustainable City general fund <br />sources with increased property tax rolls and additional utility user taxes collected on an annual <br />basis. <br />Real Property Disposition Policy Exemption <br />The Real Property Disposition Policy, received and filed at the City Council meeting of October 16, <br />2018, established procedures whereby remnant, City -owned real property assets and interests are <br />identified and recommended for disposition through sale, lease, easement, license, or agreement. <br />However, all of the properties associated with this recommended action were acquired with <br />restricted grant funding and are, thus, exempt from the previously approved Policy. <br />Estimated Financial and Economic Benefits <br />The sale of Real Property is estimated to generate about $10 Million which will be used to <br />reimburse project expenditures and replenish grants used on their acquisition as well as funding <br />more public improvements along Bristol Street. More importantly, the sale of these properties <br />would lead to other significant economic activity spurred from the development of various projects <br />on each parcel including creating local jobs, sales tax, and increased property tax that will be <br />19C-2 <br />
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