HomeMy WebLinkAboutR11- Economic Development ECONOMIC DEVELOPMENT AGENCY
OF THE CITY OF SAN BERNARDINO
REQUEST FOR COMMISSION ACTION
FROM: BARBARA J.LINDSETH SUBJECT: VALLEY AUTO-GANNETT
Acting Director BILLBOARD ACQUISITION
DATE: January 18, 1995
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Sepsis of Previous Commission/CouncWCommittee Action(s):
The Community Development Commission has previously given instructions to the Agency's negotiator in closed
session.
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Recommended Motion(s):
(Community Development Commission)
MOTION: That the Community Development Commission purchase the Gannett Outdoor sign structure and lease
rights for$75,000;further that the Commission increase the Agency budget accordingly and authorize the
Acting Director to execute all necessary documents.
Administrator BARBARA J.LINDSETH
Acting Director
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Contact Person(s): Barbara J.Lindseth/John Hoeger Phone: 5081
Project Area(s): Central City North Ward(s): One (1)
Supporting Data Attached: Staff Report:
FUNDING REQUIREMENTS: Amount: $75,000 Source: Tax Increment
Budget Authority: Recommended
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Commission Notes:
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BJL:JBH:lag:01-23-04.cdc COMMISSION MEETING AGENDA
MEETING DATE: 01/23/1995
Agenda Item Numbe4LL-
ECONOMIC DEVELOPMENT AGENCY
STAFF REPORT
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VALLEY AUTO- GANNETT BILLBOARD ACQUISITION
The Commission has previously discussed the purchase and demolition of the billboard located on
the west side of the Valley Auto building. The billboard is on property the Agency purchased
from Valley Auto but is subject to a long term lease to Gannett Outdoor. An appraisal of the
value of the billboard determined that it has a value of$75,000. Because no relocation is possible
inside the city limits of San Bernardino, relocation law effectively requires that the Agency
compensate Gannett for it loss of value. The Commission also discussed the potential for the cost
of removal and other possible costs which might total an additional $10,000 making a total
possible cost of$85,000. Based upon these discussions, staff was directed to proceed with
negotiations and an offer to purchase, not to exceed $85,000 total.
Gannett Outdoor has agreed to sell the sign and lease rights for the appraised amount of$75,000.
Moreover, Gannett is willing to demolish the sign with its own forces saving the Agency the cost
of removal. Gannett will schedule the demolition as soon as the Agency delivers the purchase
price. It is expected that the timing will be soon enough to accommodate the State building and
parking structure schedules. This will save the Agency the cost of demolition.
Based upon the above, staff recommends adoption of the form motion.
BARBARA J. LINDSETH,Acting Director
Economic Development Agency
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BJL:JBH:1ag:01-23-04.cdc COMMISSION MEETING AGENDA
MEETING DATE: 01/23/1995
Agenda Item Number: �_