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Purchase and Sale Agreement — 1232 South Bristol Street <br />Spyglass Investment Group <br />Page 2 <br />completed. The types of jobs are skilled positions, such as; physicians, registered nurses, <br />licensed practical nurses, and medical technicians. An executive summary with photos of <br />recently completed DaVita facilities from Spyglass is Included (Exhibit 1). <br />The City originally acquired the property for the purpose of eliminating slum and blight utilizing <br />Section 108 Loan Guarantee that was repaid with Community Development Block Grant (CDBG) <br />funding. Any revenues generated from CDBG activities must be recaptured as program Income <br />and utilized for a CDBG eligible purpose. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this Item also supports the City's efforts to meet Goal #6 Community Facilities & <br />Infrastructure, Objective #1 (Establish and maintain a Community Investment Plan for all City <br />assets), Strategy G (Develop and Implement the City's Capital Improvement Program in <br />coordination with the Community Investment and Deferred Maintenance Plans). <br />Approval of this item supports the City's efforts to meet Goal #3 Economic Development, <br />Objective #2, (Create new opportunities for businesstjob growth and encourage private <br />development through new General Plan and Zoning Ordinance policies), Strategy C (Support <br />business development and job growth along transit corridors through the completion of critical <br />transit plans /projects). <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. <br />FISCAL IMPACT <br />The approval of the appropriation adjustment and receipt of funds from the sale of the property <br />will recognize program Income in the amount of $2,000,000 in the Community Development Block <br />Grant revenue account (no. 13518002 - 57071) and appropriate same to expenditure account (no. <br />13518783- 69011) during fiscal year 2015 -16. The reallocation of CDBG program funds for <br />projects is to be determined upon an amendment to the Annual Action Plan as needed, and <br />approval by the U.S. Department of Housing and Urban Development. <br />20A -2 <br />