TITLE
Recommendation to adopt Specifications No. RFP EP16-001 for the purchase and development opportunity at 5100 Long Beach Boulevard, Assessor Parcel Numbers 7131-032-900, -905, -908, -909, -910, -911, -912, -913 (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 $2,500,000; and
Accept Categorical Exemption CE 16-129. (District 8)
DISCUSSION
The City of Long Beach (City) currently owns the Subject Property located at 5100 Long Beach Boulevard prominently located along the easterly side of Long Beach Boulevard between Home Street and Sunset Street (Exhibit A). The Subject Property is approximately 75,376 square feet and is assembled into nearly a block of vacant land. 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 October 8, 2015, and 6,779 potential proposers specializing in purchase and development opportunities were notified of the RFP opportunity. Of those proposers, 79 downloaded the RFP via the City’s electronic bid system. The RFP do...
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