Long Beach, CA
File #: 18-031CI    Version: 1 Name: Acquisition of 5571 Orange Ave.
Type: CI-Agenda Item Status: Approved
File created: 10/11/2018 In control: The Long Beach Community Investment Company
On agenda: 10/17/2018 Final action: 10/17/2018
Title: Recommendation to 1. Approve the acquisition of the property located at 5571 Orange Avenue for $729,000 plus required closing costs; 2. Authorize the President to enter into a Lease Agreement with the City of Long Beach Department of Health and Human Services for an eighteen-month term for temporary use of the site; 3. Authorize the President to enter into an Assignment and Assumption Agreement to assume the Short-Term Occupancy Agreement between the City of Long Beach and Another Alternative Praise and Prayer Center for the use of surface parking facilities on weekends; and, 4. Authorize the President to execute any and all documents necessary to complete the acquisition of the property, and implement the Lease Agreement and Assignment and Assumptions Agreement.
Attachments: 1. 5571 Orange Ave_Staff Report.pdf, 2. 5571 Orange Ave_Site Map.pdf

TITLE

Recommendation to

1. Approve the acquisition of the property located at 5571 Orange Avenue for $729,000 plus required closing costs;

 

2. Authorize the President to enter into a Lease Agreement with the City of Long Beach Department of Health and Human Services for an eighteen-month term for temporary use of the site;

 

3. Authorize the President to enter into an Assignment and Assumption Agreement to assume the Short-Term Occupancy Agreement between the City of Long Beach and Another Alternative Praise and Prayer Center for the use of surface parking facilities on weekends; and,

 

4. Authorize the President to execute any and all documents necessary to complete the acquisition of the property, and implement the Lease Agreement and Assignment and Assumptions Agreement.

 

SUGGESTED ACTION

Approve recommendation.