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RiversideCA.gov
AUTHORIZATION TO PURCHASE A BUILDING AT 9518 MAGNOLIA AVENUE (APN 234-112-003) FOR THE ASKING PRICE OF $1,895,000, AND APPROPRIATE $2,195,000 FROM THE GENERAL FUND INFRASTRUCTURE RESERVE FOR THE PURCHASE AND ASSOCIATED COSTS OF $300,000City Council MeetingFebruary 25, 2025Community & Economic DevelopmentRiverside Police Department RiversideCA.gov2
SHARED GOALS
Arlington Village Placemaking
Riverside Police Department Detective Space
Vacant Opportunity Site with Price Reduction1
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PROPERTY PROFILE
- 8,550 SF open space floor plan- 12’ ceilings - 2 restrooms - Full HVAC throughout building- 74’ of frontage on Magnolia Avenue - 65 dedicated parking stalls- Major visibility (CPTED)$1,895,000 RiversideCA.gov4
SITE LOCATION
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SITE USE & POLICE DEPARTMENT NEEDSDetective work space
Lighting and camerasSecured parkingIncreased police presence RiversideCA.gov6
ACQUISITION BENEFITSEnhanced Police PresenceSupport For RevitalizationRedevelopment FundStrategic Use of City Resources 5 6
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STRATEGIC PLAN ALIGNMENTCommunity Trust
Equity
Fiscal Responsibility
Innovation
Sustainability & Resiliency
RiversideCA.gov8
That the City Council:1. Approve the purchase of 9518 Magnolia Avenue for $1,895,000, and $300,000 for associated costs. 2. Authorize the City Manager, or his designee, to negotiate and execute the Purchase and Sale Agreement. 3. With at least five affirmative votes, authorize the Chief Financial Officer, or designee, to record a supplemental appropriation of $2,195,000 from General Fund Infrastructure reserves to the General Fund, Police Department, Land and Building & Improvements accounts for the purchase of the building and associated costs. RECOMMENDATIONS7 8