HomeMy WebLinkAbout38- Public Works File NO-15 . 05-209
CITY OF SAN BERNARDINO - REQUEST FOR COUNCIL ACTION
From : ROGER G. HARDGRAVE, Director Subject: Authorization Inviting Bids and Establishing
Fair market Value of City Owned Land ---
Dept : Public Works / Engineering Southeast Corner of Ohio and Olive.
May Date : Ma 8 1996 ORIGINAL
Synopsis of Previous Council Action:
02-19-96 --Authorization granted to proceed with the sale of certain City property located at the
Southeast corner of Ohio Avenue and Olive Avenue and payment for preparation of an
appraisal approved.
Recommended Motion
Adopt Resolution
cc: Shauna Clark, City Administrator
Jim Penman, City Attorney
Signature
Contact person: Les Fogassy Phone: 5026
Supporting data attached: Staff Report, Map, Resolution Ward: 5
FUNDING REQUIREMENTS: Amount: None
Source: (Acct. No.) N/A
(Acct. Description) N/A
Finance:
Council Notes:
(5-20-96) Agenda Item No. 33-
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CITY OF SAN BERNARDINO - REQUEST FOR COUNCIL ACTION
STAFF REPORT
The City acquired this property through a judicial foreclosure sale, due to delinquent payments for Assessment
District No. 995 (Verdemont Community Facilities District).
The property is a 10.49 acre of vacant land located at the Southeast corner of Ohio Avenue and Olive
Avenue. City Departments were notified of the pending sale and the only response was from the Fire
Department indicating possible future use for a fire station.
Tentative Tract No. 14193 has been approved for the parcel, and the one to the east. This Tract Map will
subdivide the approximately 21 acres into 76 single family lots.
Proposals were requested from three local appraisers, and the selection of Realco Consultants was made. The
appraisal indicates the market value of the property to be $430,000. However, there are approximately
$197,427 in liens and encumbrances on the parcel, which the City will pay from the proceeds of this sale
through escrow, thus reducing the net income from this property to approximately $232,573.
The attached resolution accepts the appraisal of $430,000 to be the fair market value of the property and
gives Notice Inviting Bids. The bid opening is set for 9:00 am June 3, 1996. The results of the bids will
be presented at 3:00 pm, at the June 3, 1996 meeting for determination of the highest bid.
We recommend that the net fair market value be established at $430,000 and authorization be granted to issue
invitation for bids.
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