TITLE
Recommendation to declare the City-owned property located at 6101-6141 Atlantic Avenue, Assessor Parcel Number 7125-036-900 (Subject Property) as surplus, authorize City Manager, or designee, to execute any and all documents necessary, including a Purchase and Sale Agreement, with Amusement Industry, Inc. (Buyer) for the sale of the Subject Property in the amount of $655,578, and accept Categorical Exemption CE 16-273. (District 9)
DISCUSSION
The City of Long Beach currently owns a 60,984-square-foot unimproved lot located at 6101-6141 Atlantic Avenue, Assessor Parcel Number 7125-036-900 (Subject Property) (Exhibit A). 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 for development consistent with the vision and intent of the North Long Beach Redevelopment Project Area and its guiding documents.
The goals and objectives of the LRPMP is to partner with landowners in assembly of land in furtherance of the project area goals. The Subject Property is adjacent to a 49,223-square foot lot owned by an entity controlled by the Buyer, and currently improved with an aged retail center. Together, the adjacent parcel and Subject Property encompass an entire City block bounded on the north by Harding Street, on the south by 61st Street, on the west by Linden Avenue and on the east by Atlantic Avenue. In March of 2016, the City entered into an Exclusive Negotiating Agreement with the Buyer allowing both the City and the Buyer to determine the suitability of the project and review site plans and design. Based on a positive determination, the Buyer has expressed an interest ...
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