ITEM 11 -A –PUBLIC HEARING
TO CONSIDER ADOPTING RESOLUTION NO. 25 -37–
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
AMEND THE FY 2025 -26 OPERATING BUDGET AND
EXECUTE A PURCHASE AND SALE AGREEMENT FILE NO.
1113 BETWEEN THE CITY OF BELLFLOWER AND THE
WILLIAM AND MARY M. KWAN FAMILY TRUST FOR THE
PURCHASE OF REAL PROPERTY LOCATED AT
9855 FLOWER STREET (APN 7109 -013-032)
DISCUSSION
LOCATED MID-BLOCK ON FLOWER
STREET IN DOWNTOWN BELLFLOWER
ONE PARCEL -21,039 SF IN AREA/4,517 SF
OF BUILDINGS
NEGOTIATED PURCHASE PRICE OF
$2,650,000 WITH A 45-DAY ESCROW
Subject Site
N
DISCUSSION
•PURCHASE REPRESENTS KEY ASSET AND OPPORTUNITY THAT WILL CONTRIBUTE TO THIS AREA’S ECONOMIC GROWTH AND THE ECONOMIC DEVELOPMENT OF THE DOWNTOWN BELLFLOWER AREA.
•SUMMARY REPORT INCLUDED PURSUANT TO GOVERNMENT CODE SECTION 52201 •DESCRIBES THE MAIN POINTS OF THE ACQUISITION
•ALL PROCEEDS FROM ANY FUTURE LEASE OR SALE OF THE PROPERTY WILL BE DEPOSITED INTO THE CITY’S GENERAL FUND
RECOMMENDATION
•OPEN THE PUBLIC HEARING, TAKE TESTIMONIAL AND DOCUMENTARY EVIDENCE,
INCLUDING RECEIVING AND FILIING A REPORT REQUIRED BY GOVERNMENT CODE SECTION 52201; AND AFTER CONSIDERING THE EVIDENCE, ADOPT RESOLUTION NO. 25-37 AMENDING THE FISCAL YEAR 2025-26 OPERATING
BUDGET TO ALLOCATE FUNDS FOR THE PROPERTY PURCHASE AND
AUTHORIZING THE CITY MANAGER TO EXECUTE PURCHASE AND SALE AGREEMENT FILE NO. 1113 IN A FORM APPROVED BY THE CITY ATTORNEY; OR •ALTERNATIVELY, DISCUSS AND TAKE ANOTHER ACTION RELATED TO THIS ITEM
SUBJECT PROPERTY
9855 FLOWER STREET
Subject Site