PASADENA
City Manager - Economic Development Division
ADOPT A RESOLUTION DECLARING THE REAL
PROPERTY COMMONLY KNOWN AS 450 NORTH LAKE
AVENUE (FORMER KAISER SITE) LOCATED IN THE CITY
OF PASADENA, COUNTY OF LOS ANGELES, STATE OF
CALIFORNIA AS SURPLUS LAND PURSUANT TO THE
STATE SURPLUS LAND ACT
July 8, 2024
Background
City Manager - Economic Development Division
• October 2, 2023: Council
authorized the City Manager to
execute a Purchase and Sale
Agreement to acquire property
Villa Street
at 434-470 North Lake Avenue
(Property)
November 2023: Escrow closed,
the Property is owned by the City North Lake Avenue Existing Site of Pasadena
Located at the southeast corner
of North Lake Avenue and Villa
Street N
Consists of three, one-story
medical/office buildings with a
combined area of 24,871 SF
PASADENA
2 Subject to SLA
City Manager - Economic Development Division
• The disposition of the Site is subject to the SLA
• These steps include:
> Adopt a resolution on declaring the real property
at 434-470 North Lake Ave as Surplus Land,
> Issuance of a Notice of Availability (60 days) and,
> Negotiate with respondents in good faith in an
attempt to reach an agreement on price and
terms (90 days)
> City is not obligated to sell if an agreement is not
reached on price and terms
> If a subsequent development agreement is
reached outside of the SLA process, then, a 15%
affordability covenant is triggered if 10 or more
residential units are built 3 PASADENA
Staff Recommends
City Manager - Economic Development Division
1. Find that adopting the proposed Resolution is exempt from the California Environmental Quality Act (CEQA)
per Section 15061(b) (3) (common sense exemption)
and State CEQA Guidelines Section 15312 (surplus
government property sales); and
2. Adopt a Resolution declaring that Real Property
owned by the City of Pasadena located in the City of
Pasadena at 434-470 North Lake Avenue and
identified as APN 5732-017- 017 and 5732-017-018
(Property), as Surplus Land pursuant to the Surplus
Land Act, and taking related actions.
PASADENA
4 End of Presentation
City Manager - Economic Development Division
PASADENA