City of Fresno - File #: ID18-1139

• File #: ID18-1139
• Version: 1
• Type: Action Item
• Status: Passed
• File created: 9/21/2018
• In control: City Council
• On agenda: 12/6/2018
• Final action: 12/6/2018
• Title: Actions pertaining to the sale of APN 468-255-11 & 468-255-15 consisting of approximately a 53,040 SF Retail Building commonly referred to as the City-owned portion of the former Gottschalks building and a 214,292 SF parking structure commonly referred to as the Spiral Garage to Brixton Capital AC LLC for $1,700,000: 1. Adopt a finding of Categorical Exemption pursuant to Section 15332/Class 32 of the California Environmental Quality Act (CEQA) Guidelines. 2. Approve the Disposition and Development Agreement with Brixton Capital AC LLC for the sale of APN 468-255-11 & 468-255-15 consisting of approximately a 53,040 SF Retail Building commonly referred to as the City-owned portion of the former Gottschalks building and a 214,292 SF parking structure commonly referred to as the Spiral Garage for $1,700,000 (District 3)
• Sponsors: Office of Mayor & City Manager

Date	Ver.	Action By	Action	Result
12/6/2018	1	City Council	APPROVED AS AMENDED	Pass

REPORT TO THE CITY COUNCIL



December 6, 2018


FROM: WILMA QUAN-SCHECTER, City Manager
Office of the Mayor & City Manager

BY: LAURA GLORIA, Deputy City Manager
Office of the Mayor & City Manager


SUBJECT
Title
Actions pertaining to the sale of APN 468-255-11 & 468-255-15 consisting of approximately a 53,040 SF Retail Building commonly referred to as the City-owned portion of the former Gottschalks building and a 214,292 SF parking structure commonly referred to as the Spiral Garage to Brixton Capital AC LLC for $1,700,000:

1. Adopt a finding of Categorical Exemption pursuant to Section 15332/Class 32 of the California Environmental Quality Act (CEQA) Guidelines.
2. Approve the Disposition and Development Agreement with Brixton Capital AC LLC for the sale of APN 468-255-11 & 468-255-15 consisting of approximately a 53,040 SF Retail Building commonly referred to as the City-owned portion of the former Gottschalks building and a 214,292 SF parking structure commonly referred to as the Spiral Garage for $1,700,000 (District 3)

Body
RECOMMENDATIONS

Staff recommends that the City Council adopt a finding of Categorical Exemption pursuant to Section 15332/Class 32 of the California Environmental Quality Act (CEQA) Guidelines and approve the Disposition and Development Agreement (DDA) with Brixton Capital AC LLC (Buyer) for the sale of APN 468-255-11 & 468-255-15)consisting of approximately a 53,040 SF Retail Building commonly referred to as the City-owned portion of the former Gottschalks building and a 214,292 SF parking structure commonly referred to as the Spiral Garage for $1,700,000.

EXECUTIVE SUMMARY

Club One Casino has operated at their location on Van Ness and Tulare since 2010 and is a downtown institution that provides the City of Fresno with a steady revenue stream through parking revenues and cardroom gross receipts fees. The operator of the facility approached the City of Fresno with a full appraised purchase price offer for the Cit...