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1 RiversideCA.gov
1 RiversideCA.gov
PURCHASE, SALE AND DEVELOPMENT
AGREEMENT WITH JAMES E. THORNELL FOR
THE SALE OF VACANT CITY-OWNED LAND
FOR THE SALES PRICE OF $150,000
CITY COUNCIL
November 14, 2023
Community & Economic Development Department
RiversideCA.gov
2 • Joint initiative between the City of Riverside, Riverside County Transportation Commission (RCTC), and the California Department of Transportation District 8. • The Project provided ramp improvements, new overcrossing, widened the street from four to six lanes and added dedicated turn lanes. • Properties were acquired to accommodate the redesign. • The Project is complete.
• On December 7, 2021, City Council approved the surplus disposition of the properties.
BACKGROUND
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2 RiversideCA.gov
3 1. Acquired as part of the SR 91 Freeway and Van Buren Boulevard Interchange Improvement Project.
2. Public Works Department has determined they are no
longer needed for the project.
3. Properties and James E. Thornell agreed to the
appraised value and terms of the agreement.
DISCUSSION
RiversideCA.gov
4 SUBJECT PROPERTIES
3472 Farnham Place
233-062-011
3473 Farnham Place
233-062-010
9384 Martha Way
233-074-009
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3 RiversideCA.gov
5 Strategic Plan Priority No. 5 – High Performing Government Goal 5.4 – Achieve and maintain financial health by addressing gaps between revenues and expenditures and aligning resources with strategic priorities to yield the greatest impact.
Cross-Cutting Threads
STRATEGIC PLAN ALIGNMENT
RiversideCA.gov
6 That the City Council:
1. Approve the Purchase, Sale and Development Agreement with James E. Thornell for approximately 20,712 square feet of vacant City-owned land for the sales price of $150,000; and
2. Authorize the City Manager, or his designee, to execute the Agreement including making 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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