For City Council Meeting November 12, 2024
TO: Honorable Mayor and City Council
FROM: G. Michael Milhiser, Interim City Manager
AUTHOR: Colby Cataldi, Director of Community Development
title
Request City Council to Consider and Approve a Purchase and Sale Agreement between the City of Rialto and Aram & Yerva and Property Management LLC for the Property Located at 308 North Riverside Avenue (APN # 0130-033-31 and 0130-033-32) for an Affordable Housing Project Utilizing City General Funds and Adopt Budget Resolution No. 8307.
(ACTION)
Body
RECOMMENDATION
Staff recommends that the City Council
1. Approve the Purchase and Sale Agreement between the City and Aram & Yerva and Property Management LLC and the use of General Funds for the acquisition of 308 North Riverside Avenue for an amount of $640,000, plus related closing costs not to exceed $25,000 and site preparation costs not to exceed $50,000;
2. Authorize the City Manager to execute the Agreement, including non-substantiative modifications, amendments and/or other pertinent documents necessary to effectuate and/or implement the Agreement on behalf of the City;
3. Determine the Project is exempt pursuant to Section 15061 (b) (3) (General Rule Exemption), of the California Environmental Quality Act for an administrative action; and
4. Adopt attached Budget Resolution.
BACKGROUND
On May 29, 2024, the Economic Development Committee discussed the opportunity to evaluate and acquire the property located at 308 North Riverside (the "Property").
On June 11, 2024, City Council authorized staff to negotiate the purchase of 308 North Riverside Avenue for the purpose to construct an affordable housing project.
On August 27, 2024, City Council authorized City Manager and staff to negotiate and submit a final offer to purchase the Property.
On November 6, 2024, Staff presented to the Planning Commission the acquisition of the Property pursuant to Government Code Section 65402(a). The request to find the ...
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