RESOLUTION NO. (N.C.S.)
A RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE A PURCHASE AND SALES AGREEMENT FOR THE ACQUISITION OF 403 EAST ROMIE LANE WHEREAS, in recognition of the critical need for more affordable housing in Salinas, the City Council approved Resolution 22250 appropriating $7 million from the American Rescue Plan Act (“ARPA”) to the Affordable Housing Production Fund to be used for predevelopment, acquisition, construction, plans, and studies; and WHEREAS, staff have been working diligently to develop ARPA projects that would advance the City’s affordable housing goals and identified the potential acquisition of 403 East Romie Lane (Assessor’s Parcel Number [APN] 002-622-002-000 “the Property”), a newly constructed duplex owned by Seneca Family of Agencies; and WHEREAS, the Property is a two-story duplex with each unit containing approximately 1,643 square feet of living space, 3 bedrooms and two and half baths, an upstairs loft/ laundry room, and two car garage on a 7,050 square feet lot built in 2020; and WHEREAS, on February 7, 2023, during closed session staff received Council direction on acquisition of the Property and subsequently reached out to the real estate agent representing the owners with a purchase price of $1.45 million, contingent on the appraised value and pending completion of the City’s 30-day due diligence period; and WHEREAS, the negotiated price is one hundred thousand less than the original sales price and escrow would close on May 1, 2023; WHEREAS, the purchase of the Property will support the City of Salinas Strategic Plan 2022-2025 goal of Housing/Affordable Housing by providing much needed affordable housing to low-income families.
NOW, THEREFORE, BE IT RESOLVED that the Salinas City Council hereby authorizes the Mayor to enter into a Purchase and Sales Agreement for the acquisition of 403 East Romie Lane and authorizes the expenditure of ARPA funds for this purchase.
PASSED AND APPROVED this 7th day of March 2023, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
APPROVED:
_______________________
Kimbley Craig, Mayor
ATTEST:
_________________________
Patricia M. Barajas, City Clerk
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