For City Council Meeting March 26, 2024
TO: Honorable Mayor and City Council
APPROVAL: David Carmany, City Manager
FROM: Colby Cataldi, Director of Community Development
Title
Consideration of Bid from Newland Real Estate Equities, LLC for acquisition of Miro Way Parcels
RECOMMENDATION
Staff recommends that the City Council (1) accept the bid from Newland Capital Group, Inc. to purchase seven parcels on Miro Way, approve a Purchase and Sale Agreement with Newland Real Estate Equities, LLC, (2) authorize the City Manager to execute all required documents and (3) authorize the City Clerk to file a Notice of Exemption with the County Clerk to the Board of Supervisors
Body
Request City Council to Accept the Bid from Newland Real Estate Equities, LLC (Buyer) to Purchase Seven Parcels as depicted in Attachment 2 (0264-211-15, 0264-211-20, 0264-212-17 (ptn), 0264-212-44, 0264-212-45 (ptn), 0264-212-46, and 0264-212-54) on Miro Way and Approve, authorize the City Manager to Execute All Required Documents and Authorize the City Clerk to File a Notice of Exemption with the County Clerk to the Board of Supervisors.
BACKGROUND
On April 26, 2022, the City Council/Successor Agency adopted Resolution No. 7860 to declare, among others, six (6) parcels of land as Surplus Land, including an approximately 3-acre City-owned parcel (APN 0264-211-15) located on the southeast corner of Linden Avenue and Miro Way (the "City Parcel") and five (5) Successor Agency owned parcels (APNs 0264-212-17, -44, -45, -46, and -54) consisting of approximately 11 acres south of Miro Way (the "Agency Parcels"). The City/Successor Agency subsequently complied with the requirements of the Surplus Land Act and received letters of compliance from the California Department of Housing and Community Development. Lewis- Hillwood Rialto, LLC ("LHR") owns an approximately 7-acre parcel ("LHR Parcel") situated between the City Parcel and the Agency Parcels. The assemblage of the City Parcel, the Agency...
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