REPORT TO THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF
THE CITY OF FRESNO AND THE FRESNO REVITALIZATION CORPORATION
DATE: November 20, 2014
FROM: MARLENE MURPHEY, Executive Director
SUBJECT
Title
Approve First Amendment to Agreement for Disposal and Sale of Property to Moose Family Center #445 at 5025 E. Dakota (APN 493-020-29ST) (Successor Agency action)
body
RECOMMENDATION
The Agency recommends approval of the First Amendment to Agreement for Disposal and Sale of Property and Escrow instructions for 5025 E. Dakota Avenue (APN 493-020-29ST) for the purchase price of $281,000.
EXECUTIVE SUMMARY
On March 2, 2014 the Successor Agency approved the sale of 5025 E. Dakota to the Fresno Moose Family Center #445 (MFC) for $265,000 subject to the HSC 34177. The Oversight Board denied the sale and directed staff to offer the property at its appraised value of $281,000. The MFC has agreed to purchase the property for the full appraised value of $281,000 and has executed the subject Amendment (attached).
BACKGROUND
In accordance with AB26 and AB1484 the Successor Agency is disposing of its property. A third party MAI appraiser valued the property located at 5025 E. Dakota (APN 493-020-29ST) at $281,000. The parcel has been the headquarters for the Fresno Moose Family Center #445 (MFC) since 2006. In response to a Request for Proposal to Purchase, (RFP) the MFC offered $265,000 for the property explaining that the difference between the appraised value and their offer was consideration for improvements made by the MFC during their occupancy over the prior eight years. The Successor Agency accepted the offer and approved sale of the property. On September 4, 2014 the Oversight Board considered the matter and denied the sale at less than the appraised value and directed staff to offer the property to the MFC for its full appraised value of $281,000. The MFC has agreed to pay the full appraised value and has executed an Amend...
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