TITLE
Recommendation to receive supporting documentation into the record, conclude the hearing and adopt resolution making certain findings; and
Approve and authorize City Manager to execute any and all documents necessary for the sale of the property located at 225 Locust Avenue to Mark S. Schneider and Nancy J. Schneider, Trustees of the Schneider Family Trust dated December 29, 1994, for $322,101. (District 2)
DISCUSSION
Staff has concluded the negotiation of a Purchase and Sale Agreement (Agreement) with Mark S. Schneider and Nancy J. Schneider, Trustees of the Schneider Family Trust dated December 29, 1994 (Purchaser), for the sale of City-owned property located at 255 Locust Avenue (Subject Property), Assessor Parcel Numbers 7280-020-900 and 7280-020-906 (Exhibit A - Site Map). This property, formerly owned by the Redevelopment Agency, was transferred to the City in March 2011. While title to the site is clouded due to Assembly Bill 1X 26, the Purchaser desires and staff recommends moving forward with the transaction.
Dave Schneider’s Fine Jewelry opened in 1945 in the historic Insurance Exchange Building. In 1961, the Schneider family built and moved into a two-story brick building at 245 The Promenade North where the business still operates today, managed and owned by Mark Schneider. Mark is a third generation jeweler and is recognized for his fashion-forward award-winning designs. He has successfully continued the family business, expanding its customer base well beyond Long Beach.
As a matter of convenience and safety for customers and employees, it is important to have parking in close proximity to the building. Since 1990, Dave Schneider’s Fine Jewelry rented the adjacent surface parking lot on the Subject Property from the former Redevelopment Agency. At this time, the Purchaser would like to purchase the 5,190-square-foot site and make additional improvements that will enhance the appearance of the parking lot and ensure the safety of its...
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