ITEM 14 July 13, 2026 AVEVERDE17246 PALO ACQUISITION OF VACANT LAND &B-
PROPERTY OVERVIEW CONTINGENT ACQUISITION•APPROX. 75,277 SF/1.73 ACRESTOTAL LAND•TO PUBLIC STREETACCESSPROVIDES RESIDENCEFAMILY-15,121 SF & SINGLE006)-001-7163APNAVE. (VERDE17246 PALO•STREETACCESS TO A PUBLICNO–LANDLOCKED 60, 156 SF056)-001-7163APNVACANT LAND PARCEL (•
PURCHASE PRICE TOTAL:VERDE AVE17246 PALOVACANT LANDPROPERTY$1,800,000 OR APPROX. $24/PSF $1,004,000$796,000PURCHASE PRICE EFFECTIVE FOR FUTURE PARK DEVELOPMENT-BLENDED PRICE IS COST•RECENT CITY ACQUISITIONSN TOTAL PURCHASE PRICE PER SQUARE FOOT IS REASONABLE AND LOWER THA•
RECOMMENDATION ALTERNATIVELY, DISCUSS AND TAKE OTHER ACTION RELATED TO THIS ITEM.006); OR -001-COMMONLY KNOWN AS 17246 PALO VERDE AVENUE (APN 7163056) AND THE ACQUISITION OF REAL PROPERTY -001-VACANT LAND (APN 7163ATTORNEY, FOR THE ACQUISITION OF REAL PROPERTY COMMONLY KNOWN AS EXECUTE A PURCHASE AND SALE AGREEMENTS, IN A FORM APPROVED BY THE CITY A RESOLUTION AUTHORIZING THE CITY MANAGER TO –29 -3.)ADOPT RESOLUTION 26PROPERTY; AND2.) ENTER INTO PURCHASE AGREEMENTS WITH THE BOTH PARTIES FOR REAL 27 OPERATING BUDGET; AND -1.) AMEND THE FY 2026AUTHORIZING
THE CITY MANAGER TO