ITEM 12-A PUBLIC HEARING
TO CONSIDER ADOPTING RESOLUTION NO. 26-17– A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE PURCHASE AND SALE AGREEMENT FILE NO. 1140, IN A FORM APPROVED BY THE CITY ATTORNEY BETWEEN
THE CITY OF BELLFLOWER AND ANAYA NATURAL FOODS LLC AND TO TRANSFER THE NECESSARY FUNDS FROM THE UNASSIGNED GENERAL FUND RESERVE TO THE PROPERTY ACQUISITION RESERVE FOR THE PURCHASE OF REAL PROPERTY LOCATED AT 16710-16712 BELLFLOWER BOULEVARD (APN 710-013-002 & APN 7109-013-00074)
1 DISCUSSION
LOCATION : DOWNTOWN BELLFOWER
16710-16712 BELLFLOWER BLVD.
2 CONTIGUOUS VACANT PARCELS
APPROXIMATELY 7,000 SF
IN APRIL, THE PROPERTY WAS LISTED FOR $624,999
NEGOTIATED $600,000 WITH A 30-DAY ESCROW
ACCEPTED BY SELLER
FLOWER ST.
BELMONT ST.
BELLFLOWER BLVD.
16710-16712 Bellflower Blvd.
2 DISCUSSION
PURCHASE REPRESENTS KEY ASSET AND ECONOMIC DEVELOPMENT OPPORTUNITY THAT WILL CONTRIBUTE TO THE ECONOMIC GROWTH AND THE ECONOMIC DEVELOPMENT OF THE DOWNTOWN BELLFLOWER AREA
SUMMARY REPORT INCLUDED PURSUANT TO GOVERNMENT CODE SECTION 52201
DESCRIBES THE TERMS OF THE ACQUISITION
ALL PROCEEDS FROM ANY FUTURE LEASE OR SALE OF THE PROPERTY WILL BE DEPOSITED INTO THE CITY’S GENERAL FUND
3 RECOMMENDATION
1) OPEN THE PUBLIC HEARING; TAKE DOCUMENTARY AND TESTIMONIAL EVIDENCE; AND AFTER CONSIDERING THE EVIDENCE, ADOPT RESOLUTION NO. 26-17 AUTHORIZING THE CITY MANAGER TO EXECUTE PURCHASE AND SALE AGREEMENT FILE NO. 1140, IN A FORM APPROVED BY THE CITY ATTORNEY AND TO TRANSFER THE NECESSARY FUNDS FROM THE UNASSIGNED GENERAL FUND RESERVE TO THE PROPERTY ACQUISITION RESERVE; OR
2) ALTERNATIVELY, DISCUSS AND TAKE OTHER ACTION RELATED TO THIS ITEM
4