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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />SEPTEMBER 20, 2016 <br />TITLE: <br />EXCLUSIVE NEGOTIATION AGREEMENT <br />WITH MA MAY THET NAING TO <br />NEGOTIATE A REAL PROPERTY <br />EXCHANGE <br />{STRATEGIC PLAN NO. 6, 1 D} <br />CITY MAN ER <br />I o *$m Ji I J, I =1 1I <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1't Reading <br />❑ Ordinance on 20d Reading <br />❑ implementing Resolution <br />❑ Set Public Hearing For_,_„ - <br />CONTINUED TO <br />FILE NUMBER <br />Authorize the City Manager and City Attorney to execute an Exclusive Negotiation Agreement on <br />behalf of the City of Santa Ana with Ma May Thet Naing for period of 180 days from the execution <br />of the agreement, with two, 90 -day extension periods, for purposes of a property exchange of <br />1416 S. Bristol Street (City) and 1113 -1125 S. Standard Street ( Naing). <br />DISCUSSION <br />In Fiscal Year 2015 -2016 the City was contacted by Vinnie Tran, a representative of Ma May <br />Thet Naing, the owner of 1113 -1125 S. Standard Street. The owner expressed an interest in <br />acquiring the property located at 1416 S. Bristol Street with the possibility of offering the Standard <br />Street property in exchange for the desired location. Since the site being offered has the <br />potential to be used as a park, where the surrounding community can benefit, the City is <br />requesting authority to enter into an exclusive negotiation agreement with Ma May Thet Naing to <br />negotiate the terms of the property exchange. <br />The agreement will allow both parties 180 days from the date of execution, with two, 90 -day <br />extension periods, to negotiate. Additionally, since the Bristol property, which is the subject of the <br />proposed exchange, was acquired with Community Development Block Grant (CDBG) funds, the <br />negotiation period is essential to allow the City to determine the fair market value of the property. <br />The negotiation period will also allow the City to engage in due diligence with the U.S. <br />Department of Housing and Urban Development to ensure that the exchange is in compliance <br />with any and all applicable federal regulations. In this agreement, it is understood that neither <br />party is obligated to enter into a real property exchange, but rather that the City and Ma May Thet <br />Naing will proceed in good faith to gather and present information to one another, which, if <br />feasible, will result in agreeable terms and conditions to both parties. The finalized terms and <br />conditions will be presented to City Council in the form of an agreement for approval at a future <br />City Council meeting. <br />25J -1 <br />