Laserfiche WebLink
Real Property Purchase Agreements per RFP 19-026 <br />November 19, 2019 <br />Page 4 <br />Economic Benefit Analysis; and Community Benefit for both Commercial / Professional and <br />Residential zoned proposals. The ranking of the firms is as follows: <br />Parcel ID <br />Entity <br />Proposed Development <br />Purchase <br />Price <br />1 <br />C-1 <br />Southwest Group <br />Properties <br />Retail Drive-thru (Starbucks) <br />$1,100,000 <br />2 <br />C-2 <br />Merchant Star <br />International General <br />Trading <br />Multi -Tenant Restaurant <br />$2,605,000 <br />3 <br />C-3 <br />Merchant Star <br />International General <br />Trading <br />Restaurant <br />$1,025,000 <br />4 <br />C-6 <br />Merchant Star <br />International General <br />Trading <br />Multi -Tenant Restaurant <br />$1,050,000 <br />6 <br />R-1 <br />IAS Management <br />Single Family Residence <br />$127,700 <br />7 <br />R-2 <br />IAS Management <br />Single Family Residence + ADU <br />$257,700 <br />8 <br />R-3 <br />IAS Management <br />Single Family Residence <br />$188,700 <br />9 <br />R-4 <br />IAS Management <br />Duplex <br />$287,700 <br />10 <br />R-5 <br />IAS Management <br />Single Family Residence + ADU <br />$237,700 <br />11 <br />R-6 <br />IAS Management <br />Single Family Residence + ADU <br />$237,700 <br />12 <br />R-7 <br />DVD Construction <br />Single Family Residence <br />$192,800 <br />13 <br />R-8 <br />DVD Construction <br />Single Family Residence <br />$184,800 <br />14 <br />R-9 <br />IAS Management <br />Triplex <br />$357,700 <br />15 <br />R-10 <br />IAS Management <br />Single Family Residence + ADU <br />$251,700 <br />Total <br />$8,104,200 <br />Distribution of Funds <br />Estimated Proceeds for Bristol Improvements <br />$5,498,000 <br />Estimated Proceeds to be Returned to Funding Agency (OCTA) <br />$2,606,200 <br />The top -scoring proposals demonstrated necessary capacity and presented a diverse mix of <br />development concepts consistent with current zoning as required by RFP. The bid offers received <br />were reasonable and within industry standard and the above -recommended proposals were found <br />to provide the best value for the City of Santa Ana, both in the short-term and long-term benefits. <br />Approval of Recommended Actions No. 1-15 will enhance community satisfaction with reduction in <br />neighborhood blight, revitalize neighborhoods, and reduce liability to the City and community in <br />general. The estimated economic development benefits that will occur as a result of activation of <br />these vacant lots will promote revenue generating developments, create new local jobs, and <br />generate new sales tax revenues. Disposing of these properties will generate sustainable City <br />general fund revenues with increased property tax rolls and additional utility user taxes collected <br />on an annual basis in perpetuity. The following table summarizes key statistics: <br />