HomeMy WebLinkAbout25D - 1901 WEST WALNUT
CITY COUNCIL MEETING DATE:
REQUEST FOR
COUNCIL ACTION
CLERK OF COUNCIL USE ONLY:
SEPTEMBER 4, 2007
TITLE:
APPROVED
o As Recommended
o As Amended
o Ordinance on 151 Reading
o Ordinance on 2nd Reading
o Implementing Resolution
o Set Public Hearing For
AGREEMENT FOR ACQUISITION OF REAL
PROPERTY AND ESCROW INSTRUCTIONS
FOR 1901 W. WALNUT AVENUE
CONTINUED TO
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FILE NUMBER
CITY MANAGER
RECOMMENDED ACTION
Direct the City Attorney to prepare and authorize the City Manager and
the Clerk of the Council to execute an agreement for the acquisition of
real property and escrow instructions acquiring the real property located
at 1901 W. Walnut Avenue from the Orange County Rescue Mission, Inc. for
the amount of $1,600,000 plus normal escrow closing costs.
DISCUSSION
The subj ect property shown on Exhibit 1 encompasses 17,232 square feet
and contains a commercial/industrial building of 8,798 square feet. It
is currently being marketed for sale. The price of $1,600,000 represents
the fair market value.
Existing land uses in the area are varied and include commercial and
retail uses along primary streets as well as single and multifamily
residences on secondary streets. Purchase of this property will enable
the City to ensure future uses will be more compatible with the
surrounding land use.
ENVIRONMENTAL IMPACT
In accordance with the California Environmental Quality Act, this project
is exempt from further review. Categorical Exemption ER No. 2007-112
will be filed for this project.
250-1
Agreement for Acquisition of Real
Property and Escrow Instructions for
1901 W. Walnut Avenue
September 5, 2007
Page 2
FISCAL IMPACT
Funds for the acquisition of this property are available ln the Capital
Outlay Fund Land account (account no. 51-012-6611).
APPROVED AS TO FUNDS AND ACCOUNTS:
StelA. 7~ding
Deputy City Manager for
Development Services
Community Development Agency
I -(bc~~{t G0:::~. ~ id
~~xecutive Director
Finance & Management Services Agency
SGH/SLB/mlr
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250-2
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Exhibit 1
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