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/Executive Director
FROM: Kathy Brann, Economic Development Manager
Title
Request Successor Agency to the Redevelopment Agency of the City of Rialto to Adopt Resolution No. 7999 Approving Amendment #5 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 #165 in Rialto's LRPMP designates one parcel located at 119 N. Riverside Avenue (the "Property") to be liquidated for the benefit of taxing entities. The parcel is 20,240 square feet in size and is improved with a building of 4,390 square feet. Since 2000, the building has been occupied by Cuca's Mexican Restaurant and is now subject to a month-to-month lease agreement, terminable upon thirty (30) days' notice.
Pursuant to the approved LRPMP, on November 9, 2021, the City Council adopted Successor Agency Resolution 03-21 declaring the Property surplus land allowing the City to pursue disposition and sale of the Property in accordance with the Surplus Land Act ("SLA").
ANALYSIS/DISCUSSION
Staff subsequently completed the notification process set forth in the SLA, and is now in position ...
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