COUNCIL COMMUNICATION
TO: Honorable Mayor and Council
FROM: Stuart Schmeling, Community Investment Department
SUBJECT:Title
Award Bid for the Sale of City Owned Parcel A, Tract 2240, Block 1 Located at 2972 Amigo Drive to James Hudson (APN 112-13-320) (Stuart Schmeling)
Body
FUNDING SOURCE:
N/A
PURPOSE:
To award a bid for the sale of the city owned Parcel “A” on Amigo Drive, APN 112-13-320 to James Hudson in the amount of $290,500.
BACKGROUND:
In October of 2017, Michael Handfield submitted an application to the Community Investment Department requesting to purchase a 5-acre City owned property located at 2972 Amigo Drive. Mr. Handfield owns the adjacent property at 2970 Amigo Drive. The City parcel is currently zoned P-1, Public Lands and Facilities. Staff determined the property had no government purpose and subsequently acquired an appraisal of the property for market value to establish a minimum bid for the property.
The appraisal valued the 5-acre parcel at $290,000, anticipating residential development. The summary statement is provided as an attachment. A copy of the entire appraisal is available in the Community Investment Department.
Sealed bids were accepted through May 30, 2018, at 3:00 pm. The City received one bid in the amount of $290,500 from a Mr. James Hudson. Mr. Handfield did not submit a bid; and therefore, the City will refund his application fee in the amount of $1,721.25, per City Code.
As a condition of the sale, the property will have to be rezoned to R-1, Single Family Residential District.
COMMUNITY IMPACT:
One additional residential property on the tax roll to encourage residential development.
FISCAL IMPACT:
Revenues generated in the amount of $290,500 from the sale of public property.
ATTACHMENTS:
Bid Sheet
Appraisal Summary
Site Location Map
Tract 2240 Map
SUGGESTED MOTION::Recommended Action
I move to award the bid for the sale of City Real Property Parcel “A,” of Tract 2240, Block 1, (APN 112-13-320) in the amount of $290,500 to Mr. James Hudson.