City of Long Beach - File #: 09-111R

• File #: 09-111R
• Version: 1
• Name: Purchase & Sale and MOU w/Cal-Can Holdings, LLC to acquire property at 2144 W. 16th St.
• Type: RDA-Contract
• Status: Approved
• File created: 9/15/2009
• In control: Redevelopment Agency Board
• On agenda: 9/21/2009
• Final action: 9/21/2009
• Title: Recommendation to approve and authorize the Executive Director to execute a Purchase and Sale Agreement and all other related documents for the acquisition of property at 2144 W. 16th Street for a purchase price of $421,000 plus closing costs; and Approve and authorize the Executive Director to execute a Loan Agreement and Memorandum of Understanding between the Redevelopment Agency and Cal-Can Holdings, LLC that assists the Redevelopment Agency in acquiring a non-conforming residential property at 2144 W. 16th Street. (West Long Beach Industrial - District 1)
• Related files: 08-039R

Date	Ver.	Action By	Action	Result
9/21/2009	1	Redevelopment Agency Board	approve recommendation	Pass

TITLE

Recommendation to approve and authorize the Executive Director to execute a Purchase and Sale Agreement and all other related documents for the acquisition of property at 2144 W. 16^th Street for a purchase price of $421,000 plus closing costs; and

Approve and authorize the Executive Director to execute a Loan Agreement and Memorandum of Understanding between the Redevelopment Agency and Cal-Can Holdings, LLC that assists the Redevelopment Agency in acquiring a non-conforming residential property at 2144 W. 16^th Street.

(West Long Beach Industrial - District 1)

SUGGESTED ACTION

Approve recommendation.