Laserfiche WebLink
1 <br />Previous Redevelopment Agency Action(s) <br />N/A. <br />City CouncH/Redevelopment Agency Committee Review and Action <br />The Agency reviewed this item in closed session on April 12, 2004, and no action was reported <br />out of the closed session. <br />Applicable General Plan Policy <br />N,A. <br />Permits and/or Variances Granted <br />N/A. <br />Environmental Review <br />Acquisition of this property is exempt under CEQA (Section 15332). <br />Code Compliance Review <br />N/A. <br />Board/Commission Findings <br />N/A. <br />Summary Of Public Outreach Efforts <br />N/A. <br />Fiscal Impact <br />The negotiated cost for the property, building, and business is $500,000. The resale of the liquor <br />license (estimated at $12,000-15,000) will help offset the broker and escrow fees associated with <br />the transaction, as well as minor costs associated with securing the building. In total, the <br />acquisition of 290 Davis is estimated to cost $515,000, which will be funded by the 2002 Plaza <br />Project Area Tax Allocation Bonds. <br />Budget Authority <br />Approximately $515,000 will be appropriated from the 2002 Plaza Tax Allocation Bonds for this <br />property acquisition. <br />04 91IJ4-4.1010- <br />Edward G. S 1 ng <br />Assistant Dire or/ Agency Treasurer <br />Attachments <br />Resolution <br />CONCLUSION <br />Staff recommends approval of the attached resolution, authorizing the acquisition of 290 Davis <br />Street. <br />