REPORT TO THE CITY COUNCIL
March 5, 2015
FROM: BRUCE RUDD, City Manager
BY: R. RENENA SMITH, Assistant City Manager
SUBJECT
Title
Actions pertaining to Purchase Option and Right of Access Agreement between Cesar Chavez Foundation and the City of Fresno:
1. Adopt the addendum to Environmental Assessment No. C-14-044
2. Approve Agreement for Purchase Option and Right of Access between Cesar Chavez Foundation and the City of Fresno
Body
RECOMMENDATION
Staff recommends that City Council adopt the addendum to Environmental Assessment No. C-14-044 and approve the Agreement for Purchase Option and Right of Access between Cesar Chavez Foundation and the City of Fresno for certain real property in the City of Fresno, California commonly known as the 5100 block of E. Kings Canyon Road, Fresno, CA 93727 ("Agreement"). Additionally, Staff recommends the City Council authorize the City Manager or his designee to complete negotiations and execute the contract subject to approval as to form by the City Attorney.
EXECUTIVE SUMMARY
The City desires to grant the Cesar Chavez Foundation (the "Developer") an exclusive one-year option to purchase vacant undeveloped property, commonly known as the 5100 block of E. Kings Canyon Road, Fresno, CA 93727, (the "Property") with a right to access to the Property during the option term. For the rights granted by the City, the Developer will pay the City $5,000 within thirty days of City Council approving the Agreement. The Developer will have the right to extend the option for up to ninety days.
The Developer proposes to purchase the Property from the City for $904,000 in an "as is" condition and develop it privately to serve as a residential development for low-income residents consisting of 89 multi-family units and 46 units for senior households (the "Project").
BACKGROUND
The City currently owns real property located at the 5100 block of E. Kings Canyon Road, Fresno, California. The Deve...
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