Recommendation to authorize City Manager, or designee, to execute all documents necessary for a Lease with an Option to Purchase, by and between the City of Long Beach and the Jenni Rivera Love Foundation, a California 501 C (3) corporation, for City-owned property located at 1850-1862 Atlantic Avenue for a day care center, community room and Jenni Rivera Museum. (District 6)
Councilman Price motion carries. Thank you. We've already heard item number 20. So let's take item 21. Report from Economic and Property Development and Public Works recommendation to authorize a city manager to execute a lease with an option to purchase buy in between the City of Long Beach and the Jenni Rivera Foundation for city owned property, located at 1850 through 1862 Atlantic Avenue, District six. Thank you, Mr. West. Mike Conway, Vice Mayor Richardson, members of the City Council. This item replaced the city owned property at 1852 1862. Atlantic Avenue contains a 4800 square foot building, a former playground and an adjacent parking lot, all on a total of 14,600 square feet of land. Property was acquired by the Environmental Services Bureau with the objective of developing an educational environmental recycling demonstration depot to educate elementary school children on the benefits of recycling. Project implementation was hampered by budget constraints and the property has remained in its existing condition for a number of years. Representatives of the Jenni Rivera Love Foundation approached the city with a proposal to rehabilitate the property for use as a child daycare center, community meeting space, space and a Jenni Rivera museum. To pursue this objective, the foundation would need to invest approximately $200,000 to address the deferred maintenance and capital improvements to the building, the playground and the parking lot, and additional funds for tenant improvements. Staff proposes at least the property to the foundation for five years, with two five year extensions plus nine months for early access during due diligence. Rent will begin on the 16th month. Rent shall be a dollar 35 per square foot. A building or about 60 $480 per month rent shall be increased every five years by the cumulative change in the CPI, but rent shall also be abated dollar for dollar based upon the value of daycare services provided to the community that are below the market rate for such services , all on a non-cumulative basis. The lease will also include an option to purchase the property at today's value of $850,000, and that option will expire in ten years. So staff request City Council to declare the property surplus. Authorize City Manager to execute all necessary documents for the sale of the future development property and the lease of the government. Use property except categorical exemption. C 16 dash 190. Thank you, Mr. Conway. Mr. Andrews. Thank you, Vice Mayor. You know, I'm excited to see this come into the sixties. Not only with the late Jenni Rivera, but will create a service needed in our community. I will be 15,000 square feet of land as a daycare community room. And imagine I was nothing but a success for Jeanne Rivera's love foundation. Finally, I want to give a special thanks to you, Mike Conley, the director of Economic Property Development, who is retired for helping this project and many others in the sixth District. I wish him well on his retirement, and I want to thank all of you for the hard work. I know that voice. When you just hear it, you listen to it because this is the last time you're going to hear this individual. Sounds like Vin Scully. You will never, ever hear this voice again, you know, because. He always said, when we say why, he. Say why not? Thank you again, my love. And you very much. Yes. Thank you. Councilwoman Gonzalez. Just want to congratulate Councilmember Andrews. I know he's very close to the family and I know his hard work is now coming to fruition. So great job. Thank you. Thank you. Any public comment on this item? Seeing none. Let's go ahead and cast our vote. Councilman Price. Motion carries.