HomeMy WebLinkAboutSS8 - City Property - 4210 RiverSTUDY SESSION
ITEM NO. 8
TO:
FROM:
CITY OF NEWPORT BEACH
OFFICE OF THE CITY MANAGER
MARCH 13, 1989
MAYOR AND CITY COUNCIL
EXECUTIVE ASSISTANT
SUBJECT: CITY PROPERTY - 4210 RIVER
The City Council reviewed the attached staff report on
February 13, 1989.
To place the sale of the property on the ballot, the City Council
simply approves a resolution ordering that an appropriately
worded measure be placed on a ballot of a general municipal
election, a special municipal election or a consolidated
election. The schedule of upcoming elections is:
November 1989 - School Board
June 1990 - State General Primary
November 1990 - General Municipal Election
The resolution must be approved approximately 90 days prior
to the election date. Cost to the City would approximate $15,000
for a general municipal election and $30,000 for any of the
others.
If approved by the voters, sale of the property must be
preceded by a resolution declaring the property surplus and by
an offer to sell the land to the State and County for park and.
recreation purposes and to certain "public entities" for develop-
ment of low and moderate income housing. Such offers would need
to be made to each of the following:
California State Resources Agency
Orange County Park and Recreation Division
Orange County Housing Authority
Page 2
Additionally, "housing sponsors" qualified by the California
Housing Finance Agency to develop low and moderate income housing
may request such an offer of sale.
Any of these agencies could opt to purchase the property at a
price negotiated with the City.
If these agencies elect not to purchase the property, then the
City can sell it by conventional means. While several methods
are available, it is recommended that a minimum price be
established and that sealed competitive bids be solicited
followed by an auction where all those who submitted bids
would be allowed to re -bid above the highest sealed bid in
minimum increments of perhaps $5,000. This method will insure
the City receiving the highest price while maintaining a high
standard of openness.
1
KENNETH . DELINO
KJD:mb
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