TITLE
Recommendation to adopt Specifications No. RFP EP16-121 for the purchase and development opportunity at 4800 Long Beach Boulevard, Assessor Parcel Numbers 7133-010-900, -901, -902, -903, -904 (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 City Ventures, LLC, a Delaware limited liability company, or affiliate, for the sale of the Subject Property in the amount of $1,250,000; and
Accept Categorical Exemption CE 16-137. (District 8)
DISCUSSION
The City of Long Beach (City) currently owns the Subject Property located at 4800 Long Beach Boulevard prominently located along the easterly side of Long Beach Boulevard between 49th Street and Arbor Street (Exhibit A). The Subject Property is approximately 48,127 square feet and is currently unimproved. 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 North 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.
The RFP was advertised in the Long Beach Press-Telegram on March 14, 2016, and 7,128 potential proposers specializing in purchase and development opportunities were notified of the RFP opportunity. Of those proposers, 85 downloaded the RFP via the City’s electronic bid system. The RFP document was made available from the Purchasing ...
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