Recommendation to authorize City Manager, or designee, to execute all documents necessary, including any as-needed contracts, for the relinquishment of the City of Long Beach's Right of First Refusal, termination of use covenants, and termination of access easements pertaining to real property located at 2400 East Wardlow Road and 2401 East Wardlow Road (APN's 7149-003-017, 7149-003-018, 7149-006-053, 7149-008-004, 7149-008-007, 7149-008-012, 7149-008-015, and 7149-008-016).  (District 5)
Motion carries. Yes. Now we're going to go to item 32 and we're going to put these items up here. We're going to item 32, item 27, and item 30. So if you can kind of in that order. I'd encourage you to report from economic development. Recommendation to execute all documents necessary for their relinquishment of the City of Long Beach. Right of first refusal, termination of use covenants and termination of access easements pertaining to real property located at 240012401. East Wardlow Road District five. Fine. Thank you. Nice. Very nice, Mayor. We will have a report by Sergio Ramirez, our deputy director of economic development. Thank you, honorable mayor. Actually, vice mayor and council members. In 1981, the city of Long Beach. And Board of Water Commissioners approved the disposition of city property to McDonnell Douglas Corporation for Aircraft Manufacturing, approximately 62 acres. And that was followed by an additional sale of property in 1987 for an additional 80 acres that are adjacent to the site for the production of a C-17 aircraft. Totally. In total, 80 acres of land were sold by the city. In the compensation received for that property was approximate about $19 million. The agreements and deeds associated with the subject parcels included provisions for the restriction of use of the property for aviation, aerospace and production. And. Additionally, the agreements and deeds provided for the provision of repurchase of the property by the City or water board or as was referred to as the first right of refusal. In 1997, Boeing merged with McDonnell Douglas Corporation, and in 2015, Boeing ended the production of the season 17, and with it came the closure of the plant and the loss of over approximately about 10,000 jobs. We've been in discussions with Boeing for the last couple of years over the future of the site and staff has secured approximate about $4 million in grants from the Federal Government for the transition of the workforce and the transition of this site. Boeing has indicated that they are ready to proceed with the disposition of the property. Staff recommends that the city remove the provisions limiting the property's use from aviation and aerospace, since there are no longer the highest and best use for the properties. And additionally, we recommend the relinquishment of the city's option to repurchase or the first refusal facilitating Boeing's efforts to initiate marketing and sell the property. That concludes our report. Happy to answer any questions. Thank you very much, Councilwoman Mongo. Thank you. I really appreciate the dialog the Council had on this. So we look forward to continuing to be a part of the discussions of the future of the property as Bowie looks to find a buyer. Thank you. Congressman Soprano, fine is the only public comment in this. I see. I have a first and second to please cast your vote. I am 27.