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Real Property Purchase Agreement: 1815 East Carnegie Avenue <br />Page 2 <br />3 <br />5 <br />5 <br />6 <br />The acquisition of the Property will ensure the City’s ability to use the Property as a <br />homeless shelter for the long term if desired and provide the highest degree of control <br />over the Property for future renovation or alternative uses, as appropriate. Additionally, <br />when negotiating the Lease Agreement with the Property Owner, it was the City’s <br />original intent to exercise the option to purchase the Property that was embedded in the <br />Lease Agreement. Upon the purchase of the Property, the Lease Agreement will be <br />extinguished, as the City will own the Property outright. <br />FISCAL IMPACT <br />If the City Council approves the requested appropriation adjustments, budgeted funds <br />totaling $12,750,000 will be available in the following accounts for the required property <br />acquisition expenditures in FY 2022-23. <br />Fiscal <br />Year <br />Accounting <br />Unit-Account <br />Fund <br />Description <br />Accounting Unit, Account <br />Description Amount <br />FY 22-23 11114002-57996 <br />Opioid <br />Remediation <br />Opioid Remediation, <br />Settlements <br /> <br />$1,100,000 <br /> Total Revenue <br /> <br />$1,100,000 <br />Fiscal <br />Year <br />Accounting <br />Unit-Account <br />Fund <br />Description <br />Accounting Unit, Account <br />Description Amount <br />FY 22-23 18118013-66200 ARPA <br />ARPA, Buildings & Building <br />Improvements $1,000,000 <br />FY 22-23 11118800-66200 <br />Opioid <br />Remediation <br />Opioid Remediation, Buildings <br />& Building Improvements $1,100,000 <br />FY 22-23 12218715-66200 HHAP - Round 1 <br />HHAP, Buildings & Building <br />Improvements $ 100,000 <br />FY 22-23 41718820-66200 <br />Inclusionary <br />Housing Fund <br />Inclusionary Housing, <br />Buildings & Building <br />Improvements $3,753,571 <br />FY 22-23 1581870X-66200 <br />PLHA - Round 1, <br />2, and 3 <br />PLHA Administrative, <br />Buildings & Building <br />Improvements $ 500,000 <br />FY 22-23 1581870X-66200 <br />PLHA - Round 1, <br />2, and 3 <br />PLHA Round 1, 2 & 3, <br />Buildings & Building <br />Improvements $6,296,429 <br /> Total Expenditure $12,750,000 <br />EXHIBIT(S) <br />1. Purchase and Sale Agreement <br />Submitted By: Michael L. Garcia, Executive Director of Community Development <br />Approved By: Kristine Ridge, City Manager