HomeMy WebLinkAbout23- Public Works FILE NO. 15.06-051 C'
CITY OF SAN BERN 1RDINO - REQUEST F')R COUNCIL ACTION
From:ROGER G. Il.ARDGRAVE, Director Subject: ACCEPTANCE OF SALES PROPOSAL from Petec
Le & Associates -- City-owned property
Dept: public Works/Engineering located at 1505 North Waterman Avenue
(old Gallo's Flowers and Gifts)
Date: December 5, 1995
Synopsis of Previous Council action: TlL� 7�:95
04/17/95 --- Authorization granted to obtain an appraisal for City-owned proper-
ty located at 1505 North Waterman Avenue - in "as is" condition,
and that matter be brought back to the Mayor and Council meeting of
May 15, 1995.
0/17/95 --- Resolution No. 95-159 approved giving notice inviting competitive
bids for sale of 1505 North Waterman Avenue by 06/27/95.
0,/27/95 --- No bids received.
Recommended motion:
That the sales proposal from Peter Le and Associates to purchase the property
at 1505 North Waterman Avenue for the sales price of 5120,000, be accepted.
OR
That authorization be granted to issue Requests. for Bids to purchase the
property at 1505 North Waterman Avenue for a minimum sales price of 5120,000.
cc: Shauna Clark, City Administrator x x�///9�
Barbara Pachon, Finance Director Signature
James F. Penman, Citv Attornev
Contact person: Anne DeBolt Phone: 5328
Supporting data attached: Staff Report and Map Ward: 2
FUNDING REQUIREMENTS: Amount:
Source: _(Acct. No.)
(Acct. Description)
Finance:
Council Notes:
W
75-0262 Agenda Item No. ��
CITY OF SAN BERK_+RDINO - REQUEST � JR COUNCIL ACTION
STAFF REPORT
The City-owned property at 1505 North Waterman Avenue was appraised by Edward Hill
o` Hill & Associates on May 5, 1995. The valuation at that time was for the
minimum bid price of $150,000. This appraisal of the property did not take into
consideration any length of time to market the property, in fact Mr. Hill suggested
that it might take as long as 2 or 3 years to move the property at that price. Bid
1)!-oposals went out to approximately 15 individuals who had expressed interest in
the property. No bids were received at the $150,000.00 sales price.
Ni . Hill then prepared a letter of appraisal for a "quick sale" at 5120,000.00. A
"quick sale" might involve anywhere from I to 6 months lag time, and basically
ieduces the full sale price by approximately 20%. All 15 individuals were contact-
ed and told that the "new price" was $120,000 - no bids were received at the new,
lower price.
Since June 27, 1995, Real Property staff has shown the property to at least 12 new
prospects. We have received two lease proposals - neither of which appear to be
c onomically viable, and the sales proposal from Mr. Peter Le.
The sales proposal is for 5120,000, accepting the building in an "as is" condition,
The proposed use of the building is for a non-profit cultural and social center for
the Vietnamese community in San Bernardino.
Any broker's commissions will be paid by the Buyer, and the accepted proposal will
be net of anv broker's fee.
Slaff recommends the acceptance of Mr. Le's proposed sale price of 5120,000, as the
building is steadily deteriorating at an ever increasing speed.
75-0264 1 )/05/95 _�_
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AREA CALCULATIONS
16, x 24, = 384
3cf 21 x 10, = 20
Z(� 3.5' x 42, = 147
11.5 x 48, = 552
4.5 x 44.5, 200
6.5 x 46.5, 302
241 x 43, = 1,032
61 x 46.5, 279
61 x 18, = 108
41 x 9' x 2 = 72
-- -. Total S.F. 3,096
' 6 Say 3,100
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