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HomeMy WebLinkAbout37 - Sale of PropertyCITY COUNCIL AGENDA ITEM NO. 37 CITY OF NEWPORT BEACH OFFICE OF THE CITY MANAGER DECEMBER 14, 1992 TO: MAYOR AND CITY COUNCIL FROM: DEPUTY CITY MANAGER SUBJECT: SALE OF PROPERTY BY THE CITY COUNCIL TY Of NEWPORT BEACH DEC 1 41M ,,12A,� qZ -% VZ ACTION: If desired, approve Resolution No. 92- Declaring Surplus Property at 4210 River Avenue, 6000 Coast Highway and 323 Marine Avenue. The attached resolution formalizes the City Council's intentions to sell the vacant lot on River Avenue, the West Newport library facility on Coast Highway and the old fire station on Balboa Island. State law requires that surplus property first be offered for sale to various housing agencies for the development of low and moderate income housing. If these agencies elect not to purchase the property, then the City can sell it by conventional means. While several methods are available, staff recommends the establishment of minimum prices as set forth in the resolution. Sealed competitive bids will be solicited followed by an auction where all of those who submitted bids will be allowed to rebid above the highest sealed bid in minimum increments of $5,000. This method will insure the City receiving the highest price while maintaining a high standard of openness. Minimum bids were established by appraisal. The West Newport library facility was valued as of September 1, 1992 at $340,000. Staff recommends a slightly lower minimum price of $320,000 to attract bidders. The River Avenue property was appraised as of January 1, 1989 at a value between $325,000 to $350,000. Considering the time lag, staff is recommending that the minimum bid be set at the higher value. The fire station site was valued as of May 1, 1989 at a value between $285,000 to $320,000. Again because of the time lag, staff is recommending that the minimum price be set at the higher value. In the opinion of staff, the three year old Page 2 appraisals are adequate considering the recession and the soft real estate market. Furthermore, the bidding will be conducted with the caveat that the City can reject all bids. The timing of these sales will accommodate the construction schedules for the new library and the new fire station. Kenneth J. Delino KJD:mb Attachment RESOLUTION NO. 92- A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH DECLARING SURPLUS PROPERTY AT 4210 RIVER AVENUE, 6000 COAST HIGHWAY AND 323 MARINE AVENUE. WHEREAS, the City of Newport Beach in its capacity as a Municipal Corporation has fee title to three parcels of land commonly referred to as 4210 River Avenue, 6000 Coast Highway and 323 Marine Avenue, more fully described on Exhibit A attached hereto and made a part hereof; and WHEREAS, no municipal purposes for this property can be identified; and WHEREAS, the electorate of the City of Newport Beach by popular referendum on November 3, 1992 approved the sale of the property known as 4210 River Avenue; and WHEREAS, appraisals of the Fair Market Value of these properties have been conducted by a Certified Property Appraiser, NOW THEREFORE BE IT RESOLVED by the City Council of the City of Newport Beach that the city owned properties located at 4210 River Avenue, 6000 Coast Highway and 323 Marine,Avenue are declared surplus. BE IT FURTHER RESOLVED that the City Manager is directed to arrange for the sale of these properties to the highest bidders but in no case for prices less than the following: 4210 River Avenue $350,000 6000 Coast Highway $320,000 323 Marine Avenue $320,000 ADOPTED this date of MAYOR ATTEST: CITY CLERK 7ITY OVEDAS TO FORM ATTORNEY 1992. 1.33b/1 S m 133y1 S � .oSZi 3� 0-) N 9/Zs 1902 It Ls 9Z/7E ( Z I � el o 0 0 6 I , BS�Z I ,LS'92 N .i Q I o, o -o I m 1.4 -77v 9 o Q� BS'B2 LS B2 ,�s vs 9ts J �ti4 f/'ZE GY fp Q .9592 •L9.92 n ,L9'B2 ,9Y:SF � .Lstll I I' I �I � •L5 B2 I � I m �Ih 1 (1) i,caiiv 9 e zt� v I JA2.tl �y•� I 'to u�l � -L!Wj I I �ol o I � of 01 Ol I � a I IQa . se 6i OE I cc I ,19'62I S Z I 4-3 (1) 0 VO < O ri 34 +� H 00 a) �+�>U N ti 34 \ (a N P ? \ N U 0 p� U Q0 O co Q p O z m EXHIBIT A PAGE 1 A 121UP92 AVE 6 CORAL AKNK *Q I—, O O O ff r• ^r AVFNCF t !— :_ AFOLCNA AWAVE t AVEAtf _ 4 U-,-) O • It AMErNrsr AWAW AvrA t — , ONYX k k klls� o H YI sN> «, •«� ca CJ (�' � I«) O �'©I� O. �N-I O ©O�'� Iviv Z �T aa) (D W co N =' N O N n 0 fn �a O G1 AvrAve t -� 1 D O D O O O O O O O' O O O O e 4 k ♦ r ti v w ttd'�i' AvEAf.F t 7 MARINE 7—_ . , i l AVEMLI L �^ G) o r M r e © a a 1@ 'jam lJ 1 k CANAL i ti nay i I � I ut- J (7 �•y t 3n/ a -)No trR• 44 etl 1ta j t ABALONE AVEMff i I • t aV y t i�� �. � I r ..-�C71f G :�� r C9 EXHIBIT A PAGE 2 m w ® rf f ®® C m i� 260 O �, n R/VP-,Q DRIVE subject Property i l /` - 60$ i5 /P o — /3 � ^/4 lj _ O h i 13 �kz ° Og 6 10 ` S _T a i h � ? 9 HWY ram_ y 30 �T tOA LOT 4 eiT � G SEE DEML A SOUL EVARD _ NOTE - ASSESSOR'S BLOCK S PARCEL NUMBERS, ASSESSOR'S MAP BOOK 45 PAGE / / _ EXHIBIT A Page 3 �www �_—ei ILJ:,rr4raai�