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Title:
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Authorization to Sell City-Owned Property at 19th and Glendale Avenues for the Public Transit Department (Ordinance S-44786)
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Title
Authorization to Sell City-Owned Property at 19th and Glendale Avenues for the Public Transit Department (Ordinance S-44786)
Description
Request to authorize the City Manager, or his designee, to sell City-owned property located at the southwest corner of 19th and Glendale Avenues identified as excess real property inventory. Further request authorization for the City Treasurer to accept all funds related to this item.
Report
Summary
The excess property to be sold is approximately 51,550 square feet of vacant land, zoned C-2. The property is comprised of the nine parcels listed below by address and assessor parcel number (APN). The parcels were acquired as part of Phase I of Northwest Extension Light Rail project and are no longer needed.
1909 W. Glendale Ave., APN 156-16-024
1901 W. Glendale Ave., APN 156-16-025C
6802 N. 19th Ave., 156-16-027A
6802 N. 19th Ave., 156-16-028A
5. 6802 N. 19th Ave., 156-16-029A
6. 6810 N. 19th Ave., 156-16-030A
7. 6808 N. 19th Ave., 156-16-031A
8. 6814 N. 19th Ave., 156-16-032C
9. 6816 N. 19th Ave., 156-16-032D
The property will be advertised on the open market by a City-contracted broker at market value to be determined by an appraisal, broker's opinion of value, or other valuation method accepted by the City.
Further requesting authorization to negotiate with the offerer[s] in order to yield the highest dollar return to the City, as deemed acceptable by the City Manager, or designee. The City Manager, or designee, will select the highest responsive and responsible offer for the property based upon market value, and enter into an agreement for the purchase and sale of City-owned property, containing terms and conditions deemed necessary and appropriate by the City. The subsequent fee simple conveyance will be by special warranty deed.
Financial Impact
Revenue will be reflective of the market value of the property. The parcels were purchased by the City using Light Rail Transit bonds and regional Public Transportation Funds.
Concurrence/Previous Council Action
The Sustainability, Housing, Efficiency and Neighborhoods Subcommittee recommended City Council approval of this item on March 21, 2018, by a vote of 3-0.
Location
Parcels are located at the southwest corner of 19th and Glendale Avenues.
Council District: 5
Department
Responsible Department
This item is submitted by Deputy City Manager Mario Paniagua, and the Public Transit and Finance departments.