Title
Introduction of Ordinance Approving a Purchase and Sale Agreement with 1703 Grand LLC, for the Former Fire Station #3, Located at 1703 Grand Street, Alameda, CA for a Total of $800,000. [In accordance with California Environmental Quality Act (CEQA), this project is Categorically Exempt under the CEQA Guidelines Sections 15301(c) - Existing Facilities and 15312 (Surplus Government Property Sales).] [Requires Four Affirmative Votes]; and
Recommendation to Authorize the Use of the Proceeds from the Sale of the Above Property, Net of Prior $450,000 Budget Allocation and Closing Transaction Costs, to Be Used for Partial Repayment of an Equipment Replacement Internal Service Fund Loan. (Community Development 001)
Body
To: Honorable Mayor and Members of the City Council
From: Elizabeth D. Warmerdam, Acting City Manager
Re: Introduction of Ordinance Approving a Purchase and Sale Agreement with 1703 Grand LLC for the Property Formerly Known as Fire Station #3, Located at 1703 Grand Street for a Total of $800,000; and Recommendation to Authorize the Use of the Proceeds from the Sale of the Above Property, Net of Prior $450,000 Budget Allocation and Closing Transaction Costs, to Be Used for Partial Repayment of an Equipment Replacement Internal Service Fund Loan
BACKGROUND
On August 17, 2017, the City Council authorized the sale of a surplus fire station property at 1703 Grand Street (Exhibits 1 and 2). The City's broker, Cushman & Wakefield listed the property on September 4, 2017. Starting on September 22, 2017, open showings were offered from 10 a.m. to noon, every Friday until November 17, 2017. The building was opened at other times for anyone who could not make the open showings. The brokers were tracking inquiries from over 50 interested parties and fielded nearly 100 phone calls. The property was also advertised on Loopnet and CoStar beginning September 26, 2017.
On October 26, 2017 all of the interested parties were given access to an onlin...
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