TITLE
Recommendation to adopt Specifications No. RFP EP16-002 for the purchase and development opportunity at Anaheim Street and Lime Avenue (622-628 East Anaheim Street/1225-1235 Lime Avenue), Assessor Parcel Numbers 7274-002-904,-905, -906, -907 (Subject Property);
Declare the City-owned Subject Property as surplus;
Authorize City Manager, or designee, to execute any and all necessary documents, including a Purchase and Sale Agreement with CJDT Development Group, LLC, a California limited liability company, or affiliate, for the sale of the Subject Property in the amount of $500,000; and
Accept Categorical Exemption CE 16-135. (District 6)
DISCUSSION
The City of Long Beach (City) currently owns the Subject Property located at 622-628 East Anaheim Street/1225-1235 Lime Avenue, prominently positioned at the southwest corner of the intersection of Anaheim Street and Lime Avenue (Exhibit A). The Subject Property is approximately 19,500 square feet improved with a vacant 7,658-foot structure, which includes a 16-unit hotel over retail units (also commonly known as the Art Deco Hotel). Formerly owned by the Redevelopment Agency of the City of Long Beach (Agency), the Subject Property was included in the Successor Agency’s Long Range Property Management Plan (LRPMP), which was approved by the State of California Department of Finance (DOF) on March 10, 2015 and amended on June 24, 2015. The Subject Property has been categorized with a permissible use of “Future Development,” allowing for the disposition of the Subject Property through a Request for Proposals (RFP) process for development consistent with the vision and intent of the Central Long Beach Redevelopment Project Area and its guiding documents. As further required in the LRPMP, the Subject Property has been conveyed to the City and is now a City-owned asset. A portion of the property was acquired through funds from the sale of tax-exempt bonds. A portion of these bonds may need to be redeemed upo...
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