TITLE
Recommendation to authorize City Manager, or designee, to execute any and all documents necessary, including a Purchase and Sale Agreement (PSA), with Eddie N John #1, LLC, a California limited liability company, and Youna Kim, a Sole Proprietor dba Eddie's Liquor #1 (collectively "Seller"), for the purchase of certain real property located at 6841-6845 Atlantic Avenue, Assessor Parcel Numbers 7116-019-029 and -036 (Subject Property), in the amount not to exceed $9,591,540;
Authorize City Manager, or designee, to execute all documents necessary for a Lease between the City of Long Beach and Eddie's Liquor #1, for the use of the Subject Property;
Adopt Negative Declaration ND-02-19; and
Increase appropriations in the General Fund (GF) in the Economic Development Department (ED) by $9,591,540, offset by the sale proceeds from the Broadway Block Site B and transfer of HEAP grant revenue from the Health Fund (SR 130). (District 9)
DISCUSSION
On July 24, 2018, Ninth District Councilmember Rex Richardson introduced, and the full City Council approved, an item requesting a City staff report on revenue options to address local homelessness and housing shortages in Long Beach. On August 21, 2018, City staff returned to the City Council with a report on a strategy to create additional affordable housing and improve prevention and response to homelessness in Long Beach, including current efforts, potential new funding sources, and enhanced approaches to reduce homelessness and improve housing opportunities. Multiple actions were recommended by City staff and approved by the City Council, including an analysis detailing a strategy for identifying a potential dedicated local revenue source for the development of permanent supportive housing and comprehensive prevention service; and, a plan to use recently received State funding toward the purchase of a facility that would be utilized as a year-round homeless shelter, focusing on Winter Shelter sites previously use...
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