HomeMy WebLinkAboutR14-Economic Development Agency
DEVELOPMElfT DEPARTMBBT
OF THE CITY OF SAB BBRlWIDIlV
REQUEST FOR COMM[SSIOR/COURCIL ACTIO.
From:
KENNETH J. HENDERSON
Executive Director
Subject:
PROPOSED SALE OF
101 NORTH "I" STREET
BUILDING
Date:
May 11, 1992
SvnoDsis of Previous Commission/Council/Committee Action(s):
On May 4, 1992, the Community Development Commission received and
filed a staff report regarding the proposed sale of property located
at 101 North "I" Street.
A joint public hearing on the sale of this property was scheduled for
Monday, May 18, 1992 at 11:00 a.m.
Recommended Motion(s):
OPEN PUBLIC HEARING
CLOSED PUBIC HEARING
(Community DeveloDment Commission)
MOTION A That the Community Development Commission authorize the
Executive Director to enter into a Disposition and
Development Agreement with Games for Fun International for
the sale of property located at 101 North "I" Street.
- OR -
(Motions Continued on Next Page)
~strator
~OB
Executive Director
Contact Person(s):
Ken Henderson/Stafford Parker
Phone:
5081
Project Area(s):
UPtown
Ward(s):
Three (3)
Supporting Data Attached:
Staff Report; Letters; Maps: Comparables
Summary Reports
FUNDING REQUIREMENTS:
Amount: $
N/A
Source:
N/A
Budget Authority:
N/A
Commission/Council Notes:
KJH:EMW:lag:0682T
COMMISSION MEETING AGENDA
Meeting Date: 5/18/199~
Agenda Item Bomber: ) r 1
REQUEST FOR COMMISSI..... .~ 'COUNCIL ACTION Continued
Proposed Sale of 101 North "I" Street
May 8, 1992
Page Humber -2-
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Recommended Motion(s) Continued...
MOTION B That the Community Development Commission authorize the
Executive Director to enter into a Disposition and
Development Agreement with Loma Linda University for sale of
property located at 101 North "I" Street.
-OR-
MOTION C That the Community Development Commission reject the
proposals to purchase property located at 101 North "I"
Street from both Games for Fun International and Loma Linda
University.
-------------------------------------------------------------------------------
KJH:EMW:lag:0682T
COMMISSIOIl MEETING AGEImA
Meeting Date: 5/18/1~9: I
Agenda Item lIumber: ~
DP~ELOPME.T DEPART EBT
OF THE CITY OF SAB BERIlARDIBC,
STAFF REPORT
PROPOSED SALE OF 101 NORTH "I" STREET PROPERTY
Loma Linda University and Games for Fun International have both expressed an
interest in acquiring property located at 101 North "I" Street (formerly the
Mental Health Building). The Agency-owned property consists of three (3)
parcels containing 48,709 square feet, improved with a 13,000 square foot
structure and a 12,648 square foot parking lot (see attached Platt map). The
site carries a light industrial land use designation.
BACKGROUND
In January of 1985, the Agency purchased this property for $599,400 based upon
a contemporaneous appraisal of $590,000. Subsequently, on July 7, 1988, the
property was reappraised by Edward G. Hill at a fair market value of $455,000
(assuming that it was first renovated for use as office space) and put on the
market for sale. Two (2) offers substantially below the then fair market
value were received and rejected.
Over the past seven years the property has continued to experience physical
decline due, in part, to extensive vandalism and a general lack of
maintenance. A report prepared by building and safety officials in 1989
identified the potential need for rehabilitation in the event of reuse to
include rehabilitation of air conditioning ducts, replacement of ceiling
tiles, handicapped modification to restroom facilities, installation of a fire
exit and fire sprinkler system, asbestos assessment/mitigation, and
assessment of the roof for structural soundness to meet seismic standards and
termite inspection. On February 3, 1992, staff conducted a brief visual
inspection of the site, and noted that portions of the roof glass, electrical
panels, heating ducts, thermostats, interior drop ceilings, walls and doors
have been removed or damaged as a result of vandalism. A water main was shut
off due to a leak in the basement and it is unclear as to whether the main has
been repaired. Since this property has been vacant for more than 180 days, it
must be adapted to meet current development code standards. The cost of
bringing this building up to current code could be substantial.
Upon review of eight (8) comparables (attached), staff estimates the fair
market value of this property to be approximately $24.68/s.f. or $246,800.
This estimate is based upon 10,000 s.f. of usable space rather than the total
13,000 s.f which includes a 3,000 s.f. basement. It also takes into account
factors such as the generally poor condition of the structure as well as the
limited functionality of the water damaged basement.
-------------------------------------------------------------------------------
KJH:EMW:lag:0682T
COMMISSION MEETING AGENDA
Meeting Date: 5/l8/199~11
Agenda Item. Number: -+:J-
DEVELOPMENT DEPAR'rMEhw, STAFF iEPORT
Proposed Sale of 101 Borth "I" Street
Kay 11, 1992
Page Bumber -2-
LOMA LINDA UNIVERSITY PROPOSAL
Loma Linda University, a non-profit institution, currently provides low cost
basic health care services to San Bernardino residents through its Social
Action Clinics (SAC) offered two (2) nights a week at the Frazee Community
Center and one (1) night a week in north Redlands. The School of Public
Health at Lorna Linda University is prepared to significantly expand these
services to include such areas as dental care, family counseling, physical
therapy and other disciplines provided in both day and evening clinics. This
would require a major expansion of the University's physical facilities in
either San Bernardino or Redlands. Lorna Linda has identified the 101 North
"In Street property as being the appropriate size and location to establish
their base clinic, with potential satellites to be added later. At this time,
Loma Linda University would like to acquire this property based upon the
following conditions:
1. Cash price of $50,000.
2. Lorna Linda would assume responsibility for all repairs and
modifications necessary to utilize the space and to meet current code
requirements. Buyer is to accept this property in "as is" condition
with no expressed or implied warranties from the seller.
3. Should Lorna Linda be unable to provide low cost health care in this
facility during the next ten (10) years, the ownership of this property
would revert back to the Agency.
Sale of this property to Lorna Linda University would benefit the City by
providing expanded low cost medical services to the community. As a result of
this expansion, Loma Linda anticipates increasing its annual operational
expenditures from $55,000 to approximately $200,000 for direct medical
services to the underserved residents of the. City. Approval of the Loma Linda
University proposal would keep the building of the tax rolls, negating any
potential flow of tax increment to the Redevelopment Agency.
GAMES FOR FUN INTERNATIONAL PROPOSAL
Games for Fun International wishes to expand its current business, which
assembles, refurbishes and repairs indoor recreation equipment for wholesale
and retail rental and sales distribution. Types of game equipment produced
include pool tables, juke boxes, soda machines, pinball and video machines,
neon signs and lighting equipment, and antique slot machines.
Ken Renfroe, owner of Games for Fun International, originally transmitted an
offer to purchase property located at 101 North "I" Street for $200,000 cash.
The Agency provided a counter offer of $300,000 cash. On March 26, 1992,
staff met with Mr. Renfroe to further negotiate the sale of this property.
Alternatives brought up during this discussion are outlined below:
KJH:EMW:lag:0682T
COMMISSION MEETING AGENDA
Meeting Date: 5/l8/19~~f
Agenda Itea Jlumber: ---L:.1-
DEVELOPMEIT DEP.ARnm~.__ STAFF REPORT
Proposed Sale of 101 Borth "I" Street
May 11, 1992
Page Number -3-
1. Cash purchase price of $250,000, owner to provide an additional $50,000
in beautification improvements. Mr. Renfroe would consider this offer
only if the City permits construction of a billboard on the property.
2. Purchase price of $250,000, $200,000 in cash, with $50,000 balance to
be paid by owner to Agency over mutually agreed time period and
interest rate. Owner to provide an additional $50,000 in
beautification improvements. Mr. Renfroe would request that the loan
be structured in a manner so as to defer payments during this current
period of economic downturn.
3. Cash purchase price of $220,000. Owner to provide an additional
$50,000 in beautification improvements.
In all cases, the Games for Fun International would be responsible for
bringing the building up to current code and has agreed to accept the property
in "as is" condition with no expressed or implied warranties.
In researching alternative (1) staff has determined that sign regulations
under the City's Development Code prohibits construction of any new billboard
signs in the City. Mr. Renfroe's requested terms and conditions for a loan in
alternative (2) would be unwieldy from a monitoring standpoint and tend not to
favor the best interests of the Agency. Since our last meeting, Mr. Renfroe
has agreed to a cash purchase price of $225,000, in addition to providing
$50,000 in beautification improvements. This offer appears to be consistent
with staff's estimate of valuation for the property. Games for Fun
International is willing to provide landscaping improvements, new paint,
signage and other facade treatments, as well as complete interior
renovations. They plan to apply a common architectural theme which will tie
their current building with the new proposed site. The company is currently
located in a building it owns directly across the street. It is their plan to
continue operating business at the current site and expand operations at the
new proposed site. Games for Fun International currently employs seven
employees and anticipates creating an additional twelve (12) jobs as a result
of this expansion.
Sale of this property to Games for Fun International would benefit the City by
creating new jobs, eliminating some blighting conditions and promoting light
industrial growth in this area. Rehabilitation, beautification and the
occupation of this building would be a first step in ensuring light industrial
reuse and pave the way for attracting other light industry to this area.
Approval would also generate new tax increment funds to the Redevelopment
Agency and possibly sales taxes to the City.
KJH:EMW:lag:0682T
COMMISSION MEETING AGENDA
Meeting Date: 5/18/19~~
Agenda Item Number: ~
DEVELOPMENT DEPARTMEt'," STAFF REPORT
Proposed Sale of 101 Borth "I" Street
May 11, 1992
Page Number -4-
CURRENT ZONING/PERMITTED USES
The subject property is zoned for light industrial land use (IL). Games for
Fun International's proposal to use the site for assembly and sale of game
equipment is a compatible and permitted use in a IL zoned site. This proposed
business expansion would appear to promote light industrial growth in the area
and is consistent with the General Plan.
Lorna Linda University's proposal to utilize the site for a medical facility
is, however, not in keeping with permitted uses on IL zoned property. Use of
this site for provision of medical services would necessitate a change of
zoning to the least restrictive general commercial use (CGl), which would
require a General Plan amendment. All General Plan amendments require review
by the Environmental Review Committee, Planning Commission, and Common
Council. It takes approximately six (6) months to complete the process of a
general plan amendment.
PARKIBG REOUIREMDTS
The site currently provides 47 existing parking spaces (including adjacent
parking lot). Medical office use proposed by Loma Linda (under CGl zoning)
would require ten (10) parking spaces for the first 2,000 s.f. and one (1)
parking space for each additional 175 s.f. for a total of 73 parking spaces,
resulting in a twenty-six (26) space shortfall.
Assembly, refurbishment and sale of game equipment proposed by Games for Fun,
Inc., is in keeping with the IL land use designation and would require one (1)
parking space for every 1,000 square foot for a total of thirteen (13) parking
spaces which is adequately provided for by the 47 parking spaces existing on
site.
Attached for your information is a copy of letters from Lorna Linda University
and Games for Fun International, Summary Reports for each of the proposed
uses, comparables and a parcel map for the referenced property.
Staff recommends adoption of the form motions A, B or C.
1Mb
Director
UlUUIT'H J.
Development
KJH:EMW:lag:0682T
COMMISSIOB MEETING AGENDA
Meeting Date: 5/l8/19.9r
Agenda Item Number: ~
"AV 12 '92 18111
-
SAMES FOR FUH
P-: e 2
POOL TABLES I GA.ES
May 1'3, 1992
"r. I(~nneth J Hendersen,
Execu~ive Director
Development Department.
City of San Denna~dino
201 Nor1:h "E- 5t.reet
San Bernardino~ CA. 92401-1507
Dear "r. Hendersen
Games For Fun has been provi.ding Spel::iiSlt:y Family-
Entertainment ite..,5i in San Bernardino since 1984.. We have
progressed from a yeerly gross o~ Sl65,OOO, wi~h one
employee, to over a milliDn in sales wi'th ..ven employees. We
ar- committed t.o continue thi~ growt.h through ligh't
.anu~ac1:urin9 and aS5embly of our own Billiard and Game
Tabl&!i..
A City DMned property, IDCa~ed on ~he North Eas~ corner
of Rial~o and -I" 5~reets, ~ets our needs~ It-s size and
lDc~~ion, beinQ n@~~ ~o our main store, makes 1t ideal. I'.
prgp~rgd ~D .aka a ~~raigh~ ~Drward cash o~fer of .225,OOO~
-fo,. thll p,-Dpvr'ty, as is.. In addit.icn I plan .facade changes en
my presen~ storv th~~ will ~ie 11: in Ni~h ~he changes planned
~or ~he Rialto and "I~ StrV8~ building. I bRlieva 1~ will
be very pleasing as one comes into ~hR ci~y, fr~ ~he W~S~_
Thi5 e,cpan~.ion wi 11 create new jobs iiPld incr-.ase t.he Tax
Sese t.o t.he City.
Ii my prDpo~al i5 excep~ed ] have ~arge~ed November J5,
1992 as .Y projec~ comple~ian da~e. I would be glad ~o answer
any questions you or your .t.aff may have.. I -. available at.
any t:iftle.
895 W. Rialto Avc., San 8ernardlno~ CA 92410. n4 885.a604 · FAX 714888-0659
,4
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II'R , 5 P32
./!!,MA ~DA 7.lNIrERsrrY
SdooI t1j PtJHi4 Ht4lrA
lMII4 LituJg I C4/ijJnlilz 92350
(714) 824-4546
MX: (7/4) 824--4087
April 13, 1992
Tim Steinhaus, Administrator
Economic Development Agency
City of San Bernardino
201 North E Sjreet, Third Roor
San Bernardino, CA 92401-1507
Dear Mr. Steinhaus:
For the past 25 years, Lorna Linda University students and faculty have provided low cost health
care for the citizens of San Bernardino. These Social Action Clinics (SAC) are currently offered
two nights a week at the Frazee Community Center and one night a week in north Redlands. Over
the past several years the demand for health services has escalated rapidly, resulting in crowded
conditions, patients being turned away and unmet needs.
~
The School of Public Health at Lorna Linda, which supports and coordinates this program, is
prepared to significantly expand these services to include such areas as dental care, family
counselling, physical therapy and other disciplines provided in both day and evening clinics. To
accomplish this will require a major expansion of our physical facilities in either San Bernardino or
Redlands. Our annual operating expenses are also expected to increase from SSS,OOO now to around
$200,000. Though the health care professionals are largely volunteers, expenses are incurred for
supplies, lab tests, medicines and staff support. United Way and limited patient fees (S5 per medical
visit) now covers the majority of these costs. In turn, the market value of this health care for our
underserved residents is expected to increase from S200,000 annually to around S6OO,OOO annually
with the expanded program.
The building on the corner of Rialto and I Street in San Bernardino has been identified as the
appropriate size and is in a good location to serve as our base clinic, with potential satellites to be
added later. We would like to invite the City of San Bernardino to collaborate with us in this
endeavor by providing this building to Lorna Linda at little or no cost. We will then assume
responsibility for repairs and modifications necessary to utilize the space. This upgrade is expected
If
.
Tim Steinhaus
April 13, 1992
Page Two
to cost over $200,000, which we plan to largely accomplish through volunteers, community
participation and donations. If, for any reason, during the next 10 years we are u~able to provide
low cost health care in this facility, it would reven back to the Cty of San Bernardino.
Thank you for consideration of this proposal. I will be glad to meet with any appropriate group to
discuss this further, and would also invite any interested persons to visit our current clinics.
Sincerely yours,
~ IJd~
Richard H. Hart, M.D., Dr.P.H.
Dean, School of Public Health
Lorna Linda t,!niversity
cc: Mayor William R. Holcomb
Ken Henderson
City Council
/4
, .
. ,
. .
lCDMPsl
IJIDUSftIAL
..C-00111-02-'1
01. .aD .erD&r41Do/.ilblaDd
t244,000(a) l'-E/5
131-321-12
CA 12121
~, C57-227C
( ) BUYER:
"',C Obertfn Or. tutt.300 tan
aIIIGLE-DDft ID~.~ aUILDI.O
Doallal .. , Eydie 'erbiD, et a1
725 I. Lago It. .
San .ernardino, CA .240.
SELLER:
~
Arthur M. , MariaDDe W. Day
15'2 K. citruI Ave.
.edland., CA .2374
MI'NI REPORT
Essential details of this transaction
were unavailable as of publication
date.
l
If you have any Information regard-
Ing this sale. please call toll-free
800/829-6156.
FINANCING:
-- lit a.elland. ..d "L
~ ./A.
2Dd I.ller '113,'27
~ ru&.
· PRIOR TRANSFER:
~raDlfer Val. 'C15,000.00
( J
LISTING BROKER:
VnJuaOVD
725 .. IAilo ft.
Ian .erDardiDo, CA .2408
VITAL DATA:
Z.crow OpeDed I .'AV
aecordlng Date. october II, 1"0
ZxchaDge ..0
Doc. .0. , ~. .153" (12".40 .)
.ALS .alca . 12&&,000 (a)
DOVD,..,.ent . t'0,073 I 25.
auildlDI Iq.Ft. 1',200 (Ir )
.rlce'lq.Ft. . t15.0'
Office .pace I ./Av
Flr &.rea aatlo. .'Av
Zapr. aatio . ,.,
Wear aul1t . 1"4
.artlD9 Ipace.. 14
.artlD9 aatlo I 0.' ape /,1000 If
.over .. ./AV
~ru.. .eight . ./AV
IODing I ./AV
Acre. . 0.57'
Land &.rea . 25,200 I II."
Fronta,e . Irref\llar
Lot DilleD.lonll Zrregular
SELLING BROKER:
UDkDOVD
If
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"el001'-OZ-"
.: au ~
'400,000(0) '-WI!
1105 Icranton Rd., 7th Ploof, Ian DIego, CA 12121
.
~PSINCORPORATED
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BUYER:
(714)"'-020'
J_. C. I Y.f9lda II. Sc1meJ.deJ:
010 All GII bc:y11zul
220 K. 11xth It.
laD "rIlUcI1Do, CA '2tl0
SELLER:
.. L1IIIbeJ: Co.
clo Jo.epb A. b%dy
aox ....
tipty l'ou,'A 153..
INCOME DATA:
..t.J: ~o hppl~~al Data
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LOAN DATA:
~/LElmD/UUlfC&
1at .~1Yat. .3'0,000
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aaar ftIt
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(11') 451.221'
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21.Z .. tip1and AYe.
lu "mazd1Do, CA .2.05
VITAL DATA:
CloaDg date: OctobeJ: 31, 1..1
DO_LL -R . : 3f51..
1&1. 'd.oe : '.00, 000 (c)
DowD pa~t: '.0,000/10'
Kat _t be: ./I.Y
Cap zate : ./1..
~d.~le : _/Ay
1peDcl. Z'at.:. ./1..
a1dr ... ft : 15,000 (UX)
.~J:loe/aq ft: '2'.1'
'J:kf qaoe.: 100 (Apx)
'azkg nUo: 1 epc/150 .~
Acze. : 3.2.
10AlDf : CSJ., C!.ty o~ ..8. _
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Dock IU.gb :.0
O\rbcl cIooJ:. : 2
t'J:u. ba'b1: : 11'
b.U. .eJ:ged: .0
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LISTING:
BROKERAGE
SELLING:
(lion. lD'901YecS pu p~pal)
(RODe iD'901Yed pu priAc:J.pal)
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,tCCMIUSl ,: =O::r~~;::-W/5
COUPS INCORPORATED 1I05lcranton ReI., 7th Floor, San DIego, CA 12121 (111) U7-mC
INDUSTRIAL
DDtJSnIAL BOILDDG
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Ian "mard1Do, CA .2e08
Il/lllIa1cola A. I Joyce A. 8m1tb
1'10 'J:1Dce Albert DJ:.
It.1ft~.1de, CA .2507
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SELLER:
(11C)I"-522C
Cupua ezu.ade WOJ: Cbru~
0/0 .obert .. I'bc.llp.OD
2100 .. L1~~1. 1Iowl~a1D D2:.
SaD "nazd1Do, Q .2C05
C'.
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INCOME DATA:
amt GROSI ~~ DtCOlll f
&quat.. ~o '0.2'/af./DO
I.e..: .5' YacaACY <I J,5'5>
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GaOlS CltD DICCIm f '1,10'
z.... ZXpeu..
( 3' oz '0.11/.f/~) <t 2,151>
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f ..,152
'71,IOC
LOAN DATA:
arM/LDmD./au.IIICZ
1at. ..lla razvo '305,000
hau _/A.
AIOI I'll!
VITAL DATA:
"0. date : IlaJ:cb 1, 1...
Do=-nt . : 111.2
1&1. IJ:l_ I .no,OOO(c)
DoWD p.~~: f305,000/50'
a.~ De~ iDe: ...,152
Cap za~. I 10.1'
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1peDd. za~.: _/Ay
aleS; .q ft : 20, "2 (11'1')
12:10./.. ft: f2'.52
J~kq Qaoe.: 50
J&J:kg ~aUo: 1 ape/ClI at.
acn. I 0.15 .
10D1Dg : XL, C1~J' of. .....
ag. (yz.) : 1 .
eo".rap : 5"
bee.. 1aA4: .0
Jc1: office: 11'
Dock 1l19h :.0
Ovh4 door. : 2
~J:U8. bgh~ : 11'
aau ..ned: .0
Imprv zaUo: IC.
!J:ade : .0
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LISTING:
('14) 8.C-'.31
CeD~m:y 21 ... Ac:tloD "a1~y
11.2 &. B1ghlaad Ave. .
8&D BeJ:DUdiDo, CA .2C05
Lou1. Cantr.ll
BROKERAGE SELLING:
(11e) I.C-I.31
C.Dtuzy 21 - Ac:tloD a.al~y
1112 a. l1gh1ud Ave.
SaD Bem&Z'd.1Jlo, (:& .2 C05
1.0111. Cutrell
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lCOM~S)
COMPS INCORPORATED
....-....1551-03-.0
.: au ~o
'C30,000(.) ,~/,
II05lcnnton ReI., m. floor, IIn DIego, CA t21 Z1
J}W
'1') 457-2274
. ...: :~---~~~):....~""" ~...\~,~~ "'~;~<.
.... ..~ ..... . "\. .......;;:...~~~.~~~~~~~~:\~~':-"..._.... '..
ann aunDUlc; pw1lU)
. . . . . . . . . . . . .
INCOME DATA:
%D1oZIMt.loD .~ a.y.ll~l.
.............
;. VITAL DATA:
"0. dat.. t ~~ 15, 1...
~_D~ . I 355"0
*,al. .&'i.oe I .UO, 000 (.)
DowD pa~t: 'C30,000/100'
..~ ..~ iDe: ./1..9
Cap &'at.. ./A9
IpeDcSabl. ./1.."
IpeDcl. ~a~. ./1.."
aleS; .. ft 20,151(01')
.&'i.oe/.~ It '20.12
.&'k, ~oe. 220 (apx)
'Uk, ~at1o. 1"8pC/.5 af
acn. : 2.11
100000g : ca, Ci.ty of ..B.
Age w&'a) : ./1.9
Coft&'age : 2.,.
bee.. luul: .0
l'elUUlt. : Vacut
1115 .. lit. V.alOD
laD Bemud1Do, ca. .2.11
.
~ ...,..
~ 8yuD Cb1lDg
'221 I. till .~.
Loa ADp1e., CA 10001
~
SELLER:
(C15) 1'1-3000
8&1.".1' ft~..
010 GozdoD .. "..., Vioe .~..i.cSaD~
.,.." Oakpo= ft. '520
Oa.1t1aACS, Q 'C'21
x:
c.
.
-
LOAN DATA:
.ot Applicable: all cuh aa1e
~aff f&'ODt: ./AY
I'raffc .1M: ./A9
Impn nUo: 52.
l'I:acle : .0 .
. .
. .
'. '. ."
. .... ....
~:;".~;........... .""..;.;,......;,;.....:.:...:.,...;,;.;.:...>;<0;0;.:.;.:.:.,...:.........;.;.;.........,....;.;...:.;..w...-:-;.:.;.;.,.....:.......;.:.;.;;.;.:.>>:.;.;.;,;.:,.;.;.:.;.;.:.;.;.;.;.;.;.;.;.;.:.;.:.;.:...;.....;..,...:.:4<.~~~:.;.;.:.;.;.;...;.;.;.;.:WN>;.;.:.;.:.:.:.~>>;..<~.>;.;.~;.;.;.;.;.:.:.:.......:.;.;.;y:.:~..:.:y;~.:.;.:.;.;.:.;.;.;.:.:.:.:.:...:.;.;.".:...:.;.;.;.;.:.;.:.;.:.;.:.:'-:':'''':':':':'.'::; .': :'..~1~
LISTING:
BROKERAGE
SELLING:
(OsWlown)
(ODbOVll)
/J
.-
(COM~S) DC-115SS'-Ol-'O
. ..... - ., :;:O=- U-D/3
.
COUNINCORPORATED 1IOI8orM1on lid.. "" Ploof, .." Dleto,oeA 12111 (111) "'4274
"c"tJ
RETAIL
. . .. ~:~ . ~"~~:"('Q,.
---
. . . . . . . . . . . . .
.'0 W. .tIl ft.
au "~o, C& 12.10
INCOME DATA:
..~.Z" t.o luppl.-nta1 Data
--------
------
. .-
.
'.
....~
BUYER: (111)'5'-"22
I'ouzth .t~..t .1ua ..taU Ctz, J.t.d
0/0 lluk Kau!mu
"00 Mal~o.. AYe.
1,0. bpl.., CA '00"
,'):~,:~~~'1I';;-:::~.~~~~;;:-:~:~)~~cm'~~~~:~~::~_:';~~~'.....,.
~~
SELLER:
..... ~
. .
. :
...
('14)18'-"11
;. aouth.m Ca1Uoada Ga. Co.
a/o DebZ"a J.. "'eS
~ .0. .ox 32.1 !'em1nal '9lftU
J.oa ADgel.., CA .0051
...:;,;
~~:
--
LOAN DATA:
am;JJ.l:NDDJ~
lat LiDcolD M.~'l ak "15,000
hau M/Ay
2Dd .zl..te '70,000
hz:ma _/Ay
AIDf ~
VITAL DATA:
"c. date : Octobu 21, 1.81
~"Dt . : .03111
*1&1. .zloe : t'40,000(a,.)
DowD paJ8Dt: t305,000/41'
aat Mt iDe: ./Ay
Cap nte : ./Ay
IpeDdabl. : _/Ay
Ipud. &"at.: ./Ay
81dg ., ft : 30,OOO(UX)
.z1oe/., ft: '2..1'
.zq' 8p&Oea: 31
~azk9 za~o: 1 8pC/'" .f
acne : 0."
&0D1Dg : CO-2, City of ....
ag. (yn) I 30(+)
Ccma~a,. I .3.
ax... 1aDcS: .0
l'eAaAt.. I VaoaIlt.
(...
I'zaff &ODt.: :I. 3Z-.t.b ft.
'l'za!~c .1de: ./Ay
%lap" zaUo: ./AY
.~~ade I ~..
~A''''_ .
. .;....:... __ ..'~ ..~.:.):-:.:...:-:-:...:..-:..,.,.....-. -_-'.'';'..:' o:...:....._.~.......;..~..:.......,....... ....:..
..;...:,.:.:....:.:....:.;.;..;......:.,...~.:.:.:-:.~;.:...:.:.;..;..._.~,.~:.:.;.;.......;.;.;.:o.<',-:-:. ,;0:.....;.:.:-;.;....:...:-:-:.:.;.;... ..... .................:.~:.,_.. ':'. :.....;.;."';o:'W':..;.:..........~.;.:.:.:...;.;..; .;.~.: .<-:. .....~
USTING:
('14) '13:-.5'5
GrUbb , Ell11 C~~cla1 ....
2151 Z. 'D' It., St.. 101-&
ODtaJ:lo, CI. .1., ,.
Chrla Burback
BROKERAGE
....:.......::~
1
SELLING:
('14)'13-45'5
Grub!> , &111. C~Z'c1a1 a...
2151 &. 'D' at., at.. 101-&
ODt.azlo, CA '1".
ChZ"1. Ohm-ok
.,) n.. ,-. _ .~.......,~.....~~........~.....,.........-.:.",.,.......:~~~ ~.#;c;;.("':A.;";.fll:..4'-" ^ ...~,.~............
r
'(CCM~S]
p{GO
8k"",,,lSJO-Dl-.0
'1 .aD ~o
'.20,000(1.,0)
110. ear_don 1I&d.. 7th PIoor,"n DIego, CAml1
1.-a/3
(111) a7.22T'
COMNINCO....ORATED
. . 'A,' .' ". , ...,... .. . ;',."'.. ", t..r.......;.~~.~~....--..y:.:..:~.~:."4r:....A._-~.:.:<<...'~~:"~,"':...~"'.... ~.: .. . .~-:.:~~.~'.,~..... ~~:..,......:.:....;..,..,',.:..,
8urC;U-ftDJ1'1' orr%ca .OILDDI(;
...............................,.:-~::;......
? VITAL DATA:
bc. elate : OctobeJ: 17, 1181
~Dt . : 381t81
*8&1. '~lce : .t20,000(1,c)
Down payaat: .t20,000/100'
..t D.t iAc:: 8/1."1
Cap zat. : 8/1."1
IpeIld-1o\1. : 8/1."1
8pend. zate: 8/1."1.
alad9 aq ft : 12,500 (UX)
.~lce/.q It: .33.10
.~tg apaou: 2.
.adtg zaUo: 1 8pC't31 .f
acz.. : 0.51
&oDi.D9 : COl, CJ.~~ of ....
&9. (y~.) : 1.
Coge~a;e : 50'
bee.. 1a1M1: .0
1Ib~ ~.~a: 1
1Ib~ .~orJ.e.: 1
ale.a~or : .OD.
OFFICE
r
BUYER:
.... Cowltr aoud of ac!uoaUoe
101 B. 'a' It.
'aD h=ard1Do, CA '2t10
SELLER:
('71C) 11'-0555
K/K Byman , Dozothy ShaD., et a1
c/o Shane lea1ty Co.
202 W. IU.a1to Ave.
SaD hmard1Do, Q .2t08
~.... ......................................................................,.................,...............'......,................
.. INCOME DATA:
.ot Appllcable: .old ~o one~/ua.~
.
(~
--
LOAN DATA:
.ot: Appl1oa!)1e: &11 oaab .ale
. . . . . . . . . . . . .
1.. 1IoaD~ai.D -"lev A.e.
.aD ..~O, CA .2.01
.si
. ........~
.~:
',r'
1mpJ:V zat.1o: 11.
~rade : .0
.,
~.;
...................................,
.1w,"",'
:f
_.
," . ~ ", ,". ;";';';';'.' ......... ............. ...;.......-..~.;. .........:,.. ..........,.....~.:......;-::....... .........;...........;.....-......... ...........-:.............. ,", ........ ...:.......;.......;........y . ._.......>~;.,;...;.: :-........................;.......-..,......,.;.................""...'.........,....- .....-.........:-..;,...........................:-....;.,' .....,...... -.;...;.:......
SELLING:
LISTING:
BROKERAGE
(SelleJ: J.. b~ok.r
aDd zepJ:..ented ..If)
(RODe 1DYOlgeC! per pr1aclpa1)
;:~~:i),;;~~<:~~~~m~:~:f~~l!':~~~~::~:?,;~~:;:,:;;~~~-::~:~~:~:*:~~z~,;@:~::*;~.:.:.~:.:~*~#..;.;:::~-:::~~*'*'*~.ri~~~:::c:~:;$~-::;:::...m~~:;~*~~;;:~~;~:::~:W:~f*,-~:"':':",,,,,
.lCOM~SJ
ItftAIL
'.C-00217-07-'1
.1. 'aD ..rDarcl1ao/.i,bl&Dd'
IC50,000(0) I-./t
155-1'2-37 .
1 4S7..a274
141. Obet1ln Dr. a""100 Ian
CA 12121
aftAIL aUlLDIIIG
RI.1m
BUYER:
Clll)CCO-l'IO
.rop.rtf D... &IIaoo.
c/o 31a BoughtoD
7'77 oakport It. 1520
oaJtlazut, CA .CI21
SELLER:
D.lla A,De. Ora.f.
c/o .afeva7
..0. .OX 33" ~.ra1Dal ADD.X
Loa Angel.., CA .0051
INCOME:
..fer ~o .uppl"'Dtal data
l.~
ICAP RATE I
./Ay
FINANCING:
.o~ Applicabl., all ca.b a.l.
-
PRIOR TRANSFER:
USnNG BROKER:
..ll~ ia broker - ~epre'.Dted ..If
. . .
-
2030 .. Del -.o.a a...
.u....Z'IlU'cU.Do, C& .2C04
VITAL DATA:
..crow Op.Ded I
a.cordlD, Date.
.KcbaDge I
Doc. .0. I n I
.~ ..ICS .
DoVD .a,.eDt I
agl1diD, 'CI.ft,
.rioe/'CI.J'~. I
I'lr &r.. aaUo.
lapr. aatlo I
T..r aal1t .
.arklD, .pac.a,
.arklD, aat10 I
IOD1D, I
~r.ffic I'roDt. I
"r.ffic .1d. .
Acr.. . .
LaDd Ar.. I
I'roDta,. I
Lot D1.aeDa10D"
.0 dara
"7 31, 1"1
.0
205'1' CIC'5.00 1')
'&10,000 CO)
'C50,000 I 100'
2',115 cwr )
'17.1'
0.22
7"
1"0
121 apK
... .pe I 1000 .f
C2, 'aD ..nardiDo
12.IIt-Del aoaa
3K-LJ'DvoocS
2.710
121,0'7 I '3.71
J&"-LJ'Dvoocl
JC7'-Del ao..
ApK J&7' a 3Ct'
SEWNG BROKER:
ID-boa.. brok.ra,.
4'! :.
.~'. ..
SI. III
~
.. .'
, :,
. .
.; "
,))-
., '-
.'. .
, 'r
. ..... ~ ....
. ~ '. J.'~.; .:..
;~~ .
>..t ~,.;... .
'& " : . -, .
:' :::. ,.'
;~: f~~c~/~
..:; ~~?~:'i:' ~.
. ... . '. .,
~:;~ Ji:,',~ ~"':' -:! :
'.. '
. .,.
..; .
. .
. .
. ~: <, .;
iG>j
: ,:'
. . ,
.... ..
-4\ -.:1;\ I
~4' I.~ ~
~.
+d'
..
/
.:f,
,.:' ,
.~...
',~ ~
,~::': i, .~.:.,
~'.: ~.
. -\
'. 'i;1
" .;:
, .: , '
" .' :.~:
" c:' ,.....~~. ~. :. .
.... .,.',
..: .
. ,
. ,". .
"
;e'
". r
, . . .
. .," ..' ...1.. ',' .<" ..3
. '"'".' ,\' .::Hyr . 3
.. :.:. ,'.!;::.~K;~{!:-:: i~
a~
i~
.8
!I
I.
---
_.L_'
,.' .
. t-::'~i;.~ :(~::f~ '; i"~
. -' "
,;~.;:t
~', I..~ .... ,'.
" ,
~
o
"
.' . '.
. .
o
.:-::-r
I > '
.. .
.~
'.
14 ·
.
SUMMARY REPORT
OF A PROPOSED SALE OF
REDEVELOPMENT AGENCY OWNED REAL PROPERTY
WITHIN THE UPTOWN REDEVELOPMENT PROJECT AREA
TO BILLY ARDT, INC.
This Summary Report has been prepared pursuant to Health and Safety Code
Section 33433 with respect to Agency owned real property acquired with tax
increment monies. It is proposed that the REDEVELOPMENT AGENCY OF THE CITY
OF SAN BERNARDINO ("Agency") sell to BILLY ARDT, INC., doing business as
GAMES FOR FUN INTERNATIONAL AND BILLIARDS SURPLUS ("Developer") that
certain parcel of real property identified as APN 134-331-20 & 23 & 24,
located at 101 North "I" Street as set forth in the map attached as
Exhibit A.
BACKGROUND
The subject property contains 48,709 square feet, is improved with a 13,000
square foot structure and a 12,648 square foot parking lot. The Developer
proposes to purchase the property and improve it under the terms of the
Disposition and Development Agreement.
COST TO THE AGENCY
The original and continuing cost of the agreement to the Agency, including
land acquisition costs, clearance costs, relocation costs, the costs of any
improvements to be provided by the Agency, plus the expected interest on
any loans or bonds to finance the agreement are provided below:
1. Purchase Price
$599,400
2. Closing Costs including escrow and reconveyance
fees, legal fees, taxes, appraisals, admin costs
TOTAL COST:
$ 12,554
$ 15,529
S 4,370
*631,853
3. Maintenance (accumulative to date)
4. Utilities (continuing)
ESTIMATED VALUE
Over the past seven years the subject property has experienced physical
decline due to extensive vandalism and a general lack of maintenance. A
report prepared by Building and Safety officials in 1989 identified the
potential need for rehabilitation in the event of reuse to include
rehabilitation of air conditioning ducts, replacement of ceiling tiles,
handicapped modification to restroom facilities, installation of a fire
exit and fire sprinkler system, asbestos assessment/mitigation, assessment
of roof for structural soundness to meet seismic standards and a termite
inspection.
/4
The estimated value of the interest to be conveyed or leased, determined at
the highest uses permitted is $24.68/s.f. or $246,800. The estimate of
fair market value was derived from a review of eight (8) comparables
attached as Exhibit B. This estimate is based upon 10,000 8.f. of usable
space rather than the total 13,000 s.f. which includes a 3,000 s.f.
basement. It also takes into account factors such as the generally poor
condition of the structure as described above as well as the limited
functionality of the water damaged basement.
PURCHASE PRICE
The purchase price of the subject property is $225,000 cash, which is
slightly below the $246,800 established fair market value. However, the
Developer will also provide $50,000 in beautification improvements to
include landscaping improvements, new paint, signage and other facade
treatments. With the addition of beautification improvements, the $225,000
offer appears to be equitable and consistent with the estimate of valuation
for the subject property. Due to the current downturn in economic climate,
there is strong competition for the retention and expansion of businesses
between cities, counties and states. If the Agency does not sell this
property for the proposed sales price, the Developer may opt to relocate
elsewhere. Although the Developer has expressed a preference toward
staying in San Bernardino, such a search for alternative facilities could
result in a loss of both business expansion as well as retention of a
business currently located in the City.
BENEFIT
Sale of this property to the Developer would benefit the City by creating
new jobs, eliminating blighting conditions and promoting light industrial
growth in this area. Rehabilitation, beautification and the occupation of
this building would be a first step in ensuring light industrial reuse and
pave the way for attracting other light industry to this area. It would
also generate new tax increment funds to the Redevelopment Agency and
possible sales tax to the City.
A copy of the form of Disposition and Development Agreement is available
upon request and is set forth as attached in Exhibit B.
A Joint Public Hearing of the City of San Bernardino and the Community
Development Commission is scheduled for 11:00 a.m., May 18, 1992 in the
Council Chambers of City Hall in San Bernardino.
Director
KJH:EMW:0676T
J~
SUMMARY REPORT
OF A PROPOSED SALE OF
REDEVELOPMENT AGENCY OWNED REAL PROPERTY
WITHIN THE UPTOWN REDEVELOPMENT PROJECT AREA
TO LOMA LINDA UNIVERSITY
This Summary Report has been prepared pursuant to Health and Safety Code
Section 33433 with respect to Agency owned real property acquired with tax
increment monies. It is proposed that the REDEVELOPMENT AGENCY OF THE CITY
OF SAN BERNARDINO ("Agency") sell to LOMA LINDA UNIVERSITY ("Developer")
that certain parcel of real property identified as APN 134-331-20 & 23 &
24, located at 101 North "I" Street as set forth in the map attached as
Exhibit A.
BACKGROUND
The subject property contains 48,709 square feet, is improved with a 13,000
square foot structure and a 12,648 square foot parking lot. The Developer
proposes to purchase the property and improve it under the terms of the
Disposition and Development Agreement.
COST TO THE AGENCY
The original and continuing cost of the agreement to the Agency, including
land acquisition costs, clearance costs, relocation costs, the costs of any
improvements to be provided by the Agency, plus the expected interest on
any loans or bonds to finance the agreement are provided below:
1. Purchase Price:
$599,400
2. Closing Costs including escrow and reconveyance
fees, legal fees, taxes, appraisals, admin costs
TOTAL COST:
$ 12,554
$ 15,529
$ 4.370
i63l,853
3. Maintenance (accumulative to date)
4. Utilities (continuing)
ESTIMATED VALUE
Over the past seven years the subject property has experienced physical
decline due to extensive vandalism and a general lack of maintenance. A
report prepared by Building and Safety officials in 1989 identified the
potential need for rehabilitation in the event of reuse to include
rehabilitation of air conditioning ducts, replacement of ceiling tiles,
handicapped modification to restroom facilities, installation of a fire
exit and fire sprinkler system, asbestos assessment/mitigation, assessment
of roof for structural soundness to meet seismic standards and a termite
inspection.
/1
The estimated value of the interest to be conveyed or leased, determined at
the highest uses permitted is $24.68/s.f. or $246,800. The estimate of
fair market value was derived from a review of eight (8) comparables
attached as Exhibit B. This estimate is based upon 10,000 s.f. of usable
space rather than the total 13,000 s.f. which includes a 3,000 s.f.
basement. It also takes into account factors such as the generally poor
condition of the structure as described above as well as the limited
functionality of the water damaged basement.
PURCHASE PRICE
The purchase price of the subject property is $50,000 cash, which price is
substantially below the estimated fair market value of $246,800.
However, it should be noted that Developer is a non-profit organization
seeking to provide a needed public service for our community. The
Developer anticipates increasing its annual operational expenditures from
$55,000 to approximately $200,000 for direct medical services to the
underserved residents of San Bernardino. If the Agency does not sell this
property for the sales price stated, the Developer may not be able to
establish a facility in San Bernardino and may seek to expand its Social
Action Clinic in another city such as Redlands.
Sale of this property to the Developer would remove the subject property
from the tax rolls, thus negating the flow of tax increment funds to the
Redevelopment Agency.
BENEFIT
Sale of this property to the Developer would benefit the City by providing
expanded low cost health care services including dental care, family
counseling, physical therapy and other disciplines to underserved San
Bernardino residents.
A copy of the form of Disposition and Development Agreement is available
upon request and is set forth as attached in Exhibit B.
A Joint Public Hearing of the City of San Bernardino and the Community
Development Commission is scheduled for 11:00 a.m., May 18, 1992 in the
Council Chambers of City Hall in San Bernardino.
J.
Development
llSOB, Executive Director
rtment
KJH:EW:068IT
J~
"
NOTICE OF JOINT PUBLIC HEARING
OF THE
MAYOR AIm COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO
AIm THE
COMMDBITY DEVELOPMENT COMMISSION
NOTICE IS HEREBY GIVEN that the Mayor and Common Council of the City of
San Bernardino and the Community Development Commission of the City of San
Bernardino, California, will conduct a Joint Public Hearing on the sale of the
Redevelopment Agency real property located within the Uptown Redevelopment
Project Area, on the day, hour and place specified below:
DAY:
May 18, 1992
TIME:
11:00 a.m.
PLACE:
City Council Chambers of the City of San Bernardino
City Hall, 300 North "0" Street
San Bernardino, CA 92418
The real property proposed to be. sold by the Redevelopment Agency is
located at 101 North "I" Street, identified as APNfI 138-331-20 & 23 & 24.
The Redevelopment Agency proposes to sell said real property to either
Loma Linda University or Games for Fun International which decision should be
made in the public hearing.
The Redevelopment Agency of the City of San Bernardino has available for
public inspection and copying at a cost not to exceed the cost of duplication,
at its offices at 201 North "E" Street, San Bernardino, California, the
following documents:
a. A copy of the form of Disposition and Joint Development Agreement for
each proponent.
b. A summary for each proponent which specifies:
1. The cost of the sale by the Redevelopment Agency, including land
acquisition costs, clearance costs, relocation costs, the cost
of any improvements to be provided by the Agency.
2. The estimated value of the interests to be sold, determined at
the highest uses permitted under the redevelopment plan.
3. The purchase price which the buyer will be required to pay under
the terms of the Disposition and Joint Development Agreement.
In the event the total amount is less than the fair market value
of the interests to be conveyed, determined at the highest and
best use consistent with the redevelopment plan, the Agency
shall provide as a part of the summary an explanation of the
reasons for the difference.
1J ."-- J t-J
On the day and at the hour and place specified, all persons having any
interest in the sale of said real property described above may appear and be
heard.
Further information regarding the proposed sale may be obtained from the
Executive Director of the Agency at 201 North "E" Street, San Bernardino,
California.
GIVEN BY ORDER of the Mayor and Common Council of the City of San
Bernardino and the Redevelopment Agency of the City of San Bernardino,
California.
RachRf.~~,~
RACHEL KRASNEY, City Clerk
City of San Bernardino
Aevn cUlf:JYl.etb-~ tV, 1Lpu-~
KENNET J. HEND RSON, Secretary
Community Development Commission of
the City of San Bernardino