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Purchase and Sale Agreement of 203-205 W Civic Center Drive <br />August 18, 2020 <br />Page 3 <br />appraisal valued the current YMCA property as a negative value, the City does not have to file a <br />subsidy report pursuant to Government Code Section 53083 as there is no loss or revenue to the <br />City. <br />FISCAL IMPACT <br />The purchase price of the City -owned property at 203-205 W. Civic Center Drive is $500,000. Upon <br />execution of this contract, Caribou will deposit the funds into General Fund Miscellaneous <br />Revenue, Sale of Land account no. 01102002-57071. <br />Fiscal Impact Verified By: Kathryn Downs, CPA, Executive Director — Finance and Management <br />Services Agency <br />Submitted By: Steven A. Mendoza, Executive Director — Community Development Agency <br />Exhibits: 1. Purchase and Sale Agreement <br />2. Map of Proposed Sale of Property <br />25A-3 <br />