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...
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