Summary Report Government Code Section 52200 – Purchase and Sale Agreement – Disposition – 9855 Flower Street 1
SUMMARY REPORT PURSUANT TO
GOVERNMENT CODE § 52201
REGARDING A
PURCHASE AND SALE AGREEMENT
BY AND BETWEEN THE
CITY OF BELLFLOWER AND
BELLFLOWER 5 INV, LLC
The following Summary Report was prepared pursuant to Government Code § 52201. This report sets forth certain details of the proposed Purchase and Sale Agreement (“Agreement”) between the City of Bellflower (“City”) and Bellflower 5 Inv, LLC (“Buyer”).
City owns a total of 21,039 square feet of land located at 9855 Flower Street on one parcel (APN 7109- 013-032) (“Property”). The Agreement requires City to sell the Property to the Buyer.
The following Summary Report is based upon information required by the Government Code. It is organized into the following six sections:
I. Salient Points of the Agreement: This section summarizes the major responsibilities agreed to by City and the Buyer by the Agreement.
II. Cost of the Agreement to the City: This section details the total cost to the City associated with implementing the Agreement.
III. Estimated Value of the Interests to be Conveyed Determined at the Highest and Best Uses Permitted Under the General Plan or Zoning: This section estimates the value of the interests to be conveyed determined at the highest and best use permitted for the City Property and the requirements imposed by the General Plan or Bellflower Municipal Code.
IV. Estimated Reuse Value of the Interests to be Conveyed: If applicable, this section summarizes the valuation estimate for the City Properties based on the required scope of development and other conditions and covenants required by the Agreement.
V. Consideration Received and Comparison with the Established Value: This section describes the compensation to be received by the City and explains any difference between the compensation to be received and the established highest and best use value of the City Properties.
VI. Creation of Economic Opportunity: This section describes the existing condition of the subject property and explains how the Agreement will assist in the creation of economic opportunity.
This report and the Agreement are to be made available for public inspection prior to the approval of the Agreement and no later than the time of publication of the first required notice of the public hearing pursuant to Government Code § 52201.
I. SALIENT POINTS OF THE AGREEMENT
A. Project Description
The Project is the City’s sale of all that certain real property located at 9855 Flower Street, Bellflower, CA 90706 on APN 7109-013-032 totaling 29,039 square feet.
Summary Report Government Code Section 52200 – Purchase and Sale Agreement – Disposition – 9855 Flower Street 2
B. Seller (City) Responsibilities Under the Agreement
The Agreement requires the City to accept the following responsibilities:
1. City agrees to sell the Property, following the satisfactory inspection(s) of the Property by the Buyer and approval of documents produced during the Due Diligence Period.
2. Seller agrees to pay the costs associated with a CLTA Standard Coverage Policy of Title Insurance showing title to the Property vested in Buyer and approximately 50% of the applicable escrow fees.
C. Buyer Responsibilities Under the Agreement
1. Buyer will purchase the Property for $2,650,000.
2. Buyer may access to the Property for the purpose of making necessary or appropriate inspections, including geological, soils and/or environmental assessments.
3. Buyer must, at its sole cost and expense, secure any and all land use and other entitlements and approvals, and pay any and all applicable fees which the City may require for the construction and operation of the Purchaser Improvements, and any other entitlements, permits or approvals required by any other governmental agency.
4. Buyer, as well as its contractor or contractors, must obtain and maintain comprehensive general commercial liability insurance covering all activities relating to construction of Purchaser’s Improvements at the City Properties, in the amounts of not less than $2,000,000 combined single limit per occurrence for claims arising out of bodily injury, personal injury and property damage for each policy coverage and will remain in force during construction.
5. Buyer must obtain and maintain workers’ compensation insurance as required by law and will remain in force for the duration of the Agreement.
II. COST OF THE AGREEMENT TO THE CITY
The cost incurred by the City to implement the Agreement is a de minimus amount of administrative time, ALTA Owner’s Coverage Policy of Title Insurance and approximately half of the typical escrow fees.
III. ESTIMATED VALUE OF THE INTEREST TO BE CONVEYED OR LEASED DETERMINED AT THE
HIGHEST AND BEST USES PERMITTED UNDER THE GENERAL PLAN OR ZONING
Government Code § 52201 requires the City to identify the value of the interests being conveyed at the highest use allowed by the City’s General Plan or Property’s zoning. The City and Buyer negotiated a sales price of $2,650,000 for the Property.
IV. ESTIMATED REUSE VALUE OF THE INTERESTS TO BE CONVEYED
A reuse value evaluation is not included in this summary because no extraordinary conditions, covenants and/or development costs are required by the Agreement.
Summary Report Government Code Section 52200 – Purchase and Sale Agreement – Disposition – 9855 Flower Street 3
V. CONSIDERATION RECEIVED AND COMPARISON WITH THE ESTABLISHED VALUE
The City purchased the Property in November 2025 for $2,650,000. The Agreement causes the City to sell the Property to Buyer for $2,650,000. The Property was sold for the same price for which it was purchased.
Accordingly, the negotiated sale price of $2,650,000 is the fair market value paid by the City within 12- months of acquisition. The consideration to be received is equal to or greater than the established fair market value.
VI. ECONOMIC OPPORTUNITY
The Property is located on the major east/west arterial street in Downtown Bellflower. It is currently occupied by White House Florist, a local flower shop that is being operated by the previous owner. As a previous long-term ownership, legacy property, and now a publicly owned property, it was generating a minimum tax revenue. Buyer’s acquisition of the Property will result in a foreseeable economic benefit as it will be developed either for a mixed residential and commercial project or some other beneficial private development. The Property’s proximity to public amenities and other emerging private enterprises will lead to increased synergy to accelerate economic growth within Bellflower Downtown. Under any circumstance, such private development will create economic opportunity, as defined by Government Code § 52200.2, by increasing property tax revenues to all property tax collecting entities by at least 15% when compared to the year before the property being acquired by the City.
Significant new development is occurring within the vicinity of the Property. This includes Edgeway Downtown Bellflower, The Mayne Events Center and Los Angeles County Fire Museum, The Bellflower Regional Transit Center and Parking Structure, SteelCraft outdoor food hall, the Downtown Collection townhomes, The Nest Eatery, and The Stand Up Comedy Club, in addition to the submission of a development application for a housing project adjacent to the subject property. The Property, located in the heart of Downtown Bellflower east of Bellflower Blvd., is proximate to City-owned public parking lots and Civic Center amenities including a public library, Town Center Plaza, Library Garden Park, Pirate Park, Friendship Plaza, and the Bellflower Walking and Biking Trail. Additionally, a street improvement project has been approved by the City to complete improvements on Bellflower Boulevard from Flower Street south to the 91 Freeway.
The Property is served by all major utilities and a potential housing development project could increase the property’s net assessed value generating a significant increase in property tax, exceeding the required 15% increase for the various taxing entities. Furthermore, as part of Downtown Bellflower, the property is included in the Downtown Bellflower Revitalization Vision Strategy, the Downtown Bellflower Strategic Development Plan, and adjacent to the Downtown Bellflower Transit Oriented Development Specific Plan Area.