Recommendation to adopt Specifications No. RFP EP16-001 for the purchase and development opportunity at 5100 Long Beach Boulevard, Assessor Parcel Numbers 7131-032-900, -905, -908, -909, -910, -911, -912, -913 (Subject Property); Declare the City-owned Subject Property as surplus; Authorize City Manager, or designee, to execute any and all necessary documents including a Purchase and Sale Agreement with City Ventures, LLC, a Delaware limited liability company, or affiliate, for the sale of the Subject Property in the amount of $2,500,000; and Accept Categorical Exemption CE 16-129. (District 8)
So that's that's a pretty important parcel. So congratulations to everybody as part of that. Next up is in District eight, the final parcel tonight, 22. Item 22 is a report from Economic and Property Development and Development Services. Recommendation two Adopt specification for the purchase and development opportunity at 5550 100 Long Beach Boulevard. Declare the city on subject property as surplus and authorize city manager to execute all necessary documents with city ventures for the sale of the subject property in the amount of 2.5 million. District eight. Thank you. Staff Report. Michael Conway. Mayor Garcia, members of the City Council. The property located at 5100 Long Beach Boulevard at the northwest corner of East Home Street and Long Beach Boulevard is a vacant lot, containing 75,376 square feet, which is slightly over 1.7 acres in size. The property was categorized as future development long range property management plan, which properties are disposed through a request for proposal process. The city received three proposals submitted in response to the RFP and a review panel analyzed the three proposals from the perspective of best value for the city. The three proposals were somewhat similar in that they all proposed residential development. However, the density ranged from six density units per acre to 86 density units per acre. The submittals included single family homes for sale, townhomes for sale and workforce housing for for rent. One proposal did not offer a purchase price, although their sources and uses table indicated the land had a contribution value of $3 million. Of the three proposals, City Ventures LLC was unanimously selected by the review panel as offering the best value to the city. City Ventures offered the apparent highest price for the property and offered a medium density project that has a good likelihood of being supported by the adjoining single family residence and the nearby residential community. City Ventures development timeline is proposed to be 90 days for due diligence, an additional nine months for entitlement and closing 30 days thereafter. Construction is anticipated to take 18 months. Staff request some flexibility in the due diligence and entitlement time frame if unforeseen events occur that delayed the proposed timeline and with that staff request City Council adopt specifications number RFP PEP 16 Dash 001 for the purchase and development of 5100 Long Beach Boulevard. Declare the property surplus authorized city manager. Execute all documents necessary for the sale of the property to City Ventures, LLC for 2.5 million. And accept categorical. Exemption. S.E. 16 DASH 129. This concludes my report. Thank you, Councilman Braxton. Thank you, Mr. Mayor. And I want to thank Mr. Conway and the entire staff for their work in helping to move this project along. I want to congratulate the City Ventures team for winning a competitive bid. There were two other proposals that they beat out for this this project, 42 market rate, condominium units. I think it's reasonable density and ample parking along a transit corridor. This is the project that we we're actually would love to see happen along Long Beach Boulevard. It's going to be a great addition and a dramatic improvement along the Long Beach Boulevard corridor. It will really upgrade our Virginia Village area. I did have a couple of just really quick questions. I know that particular property has two existing residential properties. I'm just almost connected to it. What do you foresee happening with those properties? The the privately owned properties, I am assuming are going to remain in place and exist and continue. To exist as residential properties. The idea of this lower density was to ensure that the transition from this property to the single family residence nearby and to the residential. Community across. The street, was intended to be a more of a soft inner integration rather than something a little bit more intense. So we think this will be an appropriate project and indeed the staff report and the plans. Is there a way to to augment this for mixed use? Should the developer decide to go down that route? We can certainly explore that through the entitlement process. Okay. Thank you very much. Members, I ask for your your support on this. Councilmember Richardson. I'll just jump in and congratulate City Ventures, congratulate Councilman Austin and city staff on on making this happen. I know this lot because I live on Long Beach Boulevard, just over the river. That's right next to where I go to the pharmacy. So this is this is pretty exciting for for that particular neighborhood. So congratulations to all look forward to that timeline. Any public comment on this item? Okay. CNN will take it back here, then again. Again, another great parcel. It's great to see the work being done. Councilman, congratulations. And please cast your votes. Motion carries. Okay. That concludes the three the three items. I understand that the next next few meetings, there's going to be items like this consistently. So and that's a good thing. I think that'll be that'll be good across the city. Let's go back to our homeless items, which we thought we were going to be earlier. I apologize. So let's start. There's two of them. The first one, I believe, is item number 14. Is that right? Yes. Okay. Item 14.