TITLE
Recommendation to adopt Specifications No. RFP ED20-041 for the development of exempt surplus City-owned property commonly known as the former Long Beach Armory, located at 854 East 7th Street, Assessor Parcel Number 7274-019-900 (Subject Property);
Authorize City Manager, or designee, to execute all documents necessary, including a Purchase and Sale Agreement (PSA) with Gundry Partners, LP, doing business as Howard CDM, of Long Beach, CA, or affiliate (Buyer/Developer), for the sale of the Subject Property in the amount of $5,150,000;
Authorize City Manager, or designee, to negotiate and execute a 55-year Residual Receipts Loan Agreement in the amount of $5,150,000 to Buyer/Developer for the purchase of the Subject Property for the purpose of developing affordable housing; and
Accept and approve categorical exemption CE 21-147. (District 1)
DISCUSSION
Long Beach Armory, located at 854 East 7th Street, occupies a .91-acre parcel bounded by Seventh Street, Gumbiner Park, Cobre Way, and Mars Court (Attachment A). The Subject Property consists of a 3-story, 26,530-square-foot Armory building (Armory Building) and a 12,000-square-foot parking lot. Built in 1930, the Subject Property served as the Long Beach Armory, one of ten armories built by the California Army National Guard (CA ARNG) between World Wars, until it was decommissioned in April 2018, and the CA ARNG relocated to the Joint Forces Training Base in Los Alamitos. Ownership of the Subject Property then reverted to the City of Long Beach (City) and has since remained vacant. The Subject Property is widely considered to be an essential part of local military history and historically significant. It is also in need of significant repairs and maintenance before it can be reoccupied.
Request for Proposals
On May 8, 2020, the City posted Request for Proposals No. RFP ED20-041 (RFP) seeking qualified respondents to enter into a long-term lease and development opportunity to activate, develop, and r...
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