For City Council Meeting and Successor Agency to the Redevelopment Agency of the City of Rialto Meeting [November 15, 2022]
TO: Honorable Mayor and City Council
APPROVAL: Marcus Fuller, City Manager
FROM: Kathy Brann, Economic Development Manager
Title
Request City Council to (1) Adopt Resolution No. 7990 Approving Amendment #4 to the Long Range Property Management Plan for the Disposition of Real Estate Assets Owned by the Successor Agency.
Body
BACKGROUND
On March 10, 2015, the California Department of Finance (DOF) approved Rialto's Long Range Property Management Plan (LRPMP) to manage the disposition of the Successor Agency to the Redevelopment Agency of the City of Rialto's 69 properties pursuant to AB 26 (the "Redevelopment Dissolution Act").
The Redevelopment Dissolution Act defined four potential disposition categories for properties held by successor agencies, as follows:
? Retention by the City for Governmental Use.
? Retention by the City for Future Development.
? Retention by the City to satisfy Enforceable Obligation.
? Liquidated for the benefit of taxing entities.
Project #15 in Rialto's LRPMP designates one parcel located at 131 S. Riverside Avenue to be liquidated for the benefit of taxing entities. The parcel is 3,000 square feet in size and is improved with a building of 2,350 square feet. Since March 2013, the building has been occupied by the Rialto Education Association pursuant to a month-to-month tenancy.
ANALYSIS/DISCUSSION
The City's has identified the property at 131 S. Riverside as a potential future location for the consolidation of development services and operations. This relocation, if approved by the City Council at a future date, would consolidate permitting services in one location. The building is in good condition and would require a minimal amount of tenant improvements to make it operational for City purposes. Prior to the advancement of this project, the existing building and the designated use i...
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