10C Action 2011 0307 - Laserfiche WebLink

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2 March 7, 2011 BACKGROUND AND ANALYSIS The California Governor proposed a budget to disband redevelopment agencies as of July 1, 2011, and use tax increment to fund state obligations. Draft legislation released on February 23, 2011 indicates that, as of July I, 2011, all redevelopment agency assets must be disposed of "expeditiously and in a manner aimed at maximizing value." Although the City would have the option of purchasing these properties, it would be obligated to pay fair market value, with the sale proceeds being remitted to the Auditor Controller. The purpose of the proposed Disposition and Development Agreement is to authorize the conveyance of 21 properties from the Agency to the City. Those properties are detailed in the following table: Add ress APN # Description Aladdin Ave 079A- 0295- 002 -17 Marina Reader Board Sign Carpentier Street 075- 0036 - 058 -00 Creek -walk behind Creekside Plaza 212 Davis Street 075- 0001- 005 -00 Vacant, held for redevelopment 222 Davis Street 075- 0001- 006 -00 Vacant, held for redevelopment 250 Davis Street 075 -0001- 008 -02 Parking, held for redevelopment 290 Davis Street 075- 0001 - 010 -02 Parking, held for redevelopment 2512 Davis Street 077A- 0649 - 008 -25 Vacant, held for Eden Road extension 1199 E. 14 Street 075 -0001 - 004 -00 Former bank, held for redevelopment 1433 E. 14 Street 077- 0545 - 018 -00 Parking 1550 E. 14 Street 077 -0540- 009 -00 Parking, held for redevelopment 14901 E. 14' Street 077D- 1499 - 001 -00 Vacant, held for streetscape improvement 2101 Marina Blvd. 079A -0568- 005 -00 Former fire station, held for redevelopment 268 Parrott Street 075- 0005 - 012 -00 Vacant, held for redevelopment 1193 Warden Ave 077A- 0655 - 001 -00 Park 1446 Washington Ave. 077- 0545- 025 -00 Parking 1490 Washington Ave. 077 - 0545- 024 -01 Parking 1595 Washington Ave. 075- 0005 - 011 -01 Vacant, held for redevelopment Washington Ave 077- 0545- 026 -02 Plaza outdoor dining area Washington Ave 077- 0545- 009 -00 Parking Washington Ave 077- 0545 - 010 -00 Parking 135 W. Joaquin Ave 077 - 0545 - 015 -00 Walkway adjacent to Plaza parking lot