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1 RiversideCA.gov
1 RiversideCA.gov
PURCHASE, SALE, AND DEVELOPMENT
AGREEMENT WITH CENTRAL 91, LP FOR
CITY-OWNED LAND, FOR THE SALES
PRICE OF $158,000
City Council
August 1, 2023
Community & Economic Development Department
RiversideCA.gov
2 1. December 7, 2012, Board of Public Utilities (Board) approved project to expand the Plaza Substation and
retire the Magnolia Substation including demolition.
2. April 26, 2021, Board approved the recommendation to declare the former Magnolia Substation as exempt
surplus.
3. October 12, 2021, City Council (Council) adopted the amended resolution correctly identifying the property as surplus.
BACKGROUND
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3 1. In 2012, Public Utilities proposed a 4-12kV conversion of the Magnolia and Plaza distribution circuits. In Phase V of t h ep r o j e c t ,ap o r t i o no ft h ef u n d i n gw a su s e dt o demolish the Magnolia Substation and remove above-
grade facilities.
2. A portion of the subject property was acquired by
Caltrans for the widening of the State Route 91 freeway including an access denial along the exit ramp at
Central Avenue.
DISCUSSION
RiversideCA.gov
4 Subject Site:
1. Approximately 20,320 sf
highlighted in blue
2. Zoned Residential (R-1-
7000)
3. General Plan Designation
- Commercial
4. 4,014 sf retained by City,
highlighted in yellow
FORMER MAGNOLIA SUBSTATION
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3 RiversideCA.gov
5 Strategic Priority No. 6 – Infrastructure, Mobility
& Connectivity
Goal 6.2: Maintain, protect, and improve assets and infrastructure within the City’s built environment to ensure and enhance reliability, resiliency, sustainability, and facilitate connectivity.
Cross-Cutting Threads
STRATEGIC PLAN ALIGNMENT
RiversideCA.gov
6 That the City Council:
1. Approve the Purchase, Sale, and Development Agreement with Central 91, LP for approximately 20,320 square feet of vacant City-owned land; and
2. Authorize the City Manager, or his designee, to execute the Agreement with Central 91, LP, including make minor and non- substantive changes, to sign all documents and instruments necessary to complete the transaction, and to expend up to $10,000 for title, escrow, and miscellaneous related closing costs.
RECOMMENDATIONS
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