REPORT TO THE CITY COUNCIL
FROM: JENNIFER CLARK, Director
Planning & Development Department
BY: PHILIP SKEI, Assistant Director
Planning & Development Department
SUBJECT
Title
Actions pertaining to an Amended and Restated Agreement for Option to Purchase 959 N. Parkway Drive (District 3):
1. ***RESOLUTION - Finding good cause and clear and convincing benefit to the public to allow a purchase option on subject property for more than five years without a request for proposal process, allow close of escrow on the subject property to extend beyond 12 months of council approval, and allow the removal of a reverter clause; and finding substantial community benefits to justify a sales price less than fair market value pursuant to Fresno Municipal Code section 4-204 relating to the disposition of real property commonly known as 959 N. Parkway Drive, Fresno, CA (APN 449-324-11) (Requires 5 affirmative votes) (Subject to Mayor's veto)
2. Approve the Amended and Restated Agreement for Option to Purchase 959 N. Parkway Drive between the City of Fresno and Fresno Housing Authority in the amount of $1,000
Body
RECOMMENDATION
Staff recommends City Council approve a resolution finding good cause and clear and convincing benefit to the public to allow a purchase option on subject property for more than five years without a request for proposal process, allow close of escrow on the subject property to extend beyond 12 months of council approval, and allow the removal of a reverter clause; and finding substantial community benefits to justify a sales price less than fair market value pursuant to Fresno Municipal Code section 4-204 relating to the disposition of real property commonly known as 959 N. Parkway Drive; approve the Amended and Restated Agreement for Purchase Option of 959 N. Parkway Drive (Amended and Restated Option Agreement); and authorize the City Manager, or her designee, to sign all documents necessary to effectuate the Amended and Restated Option ...
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