HomeMy WebLinkAboutAGENDA REPORT 2002 1030 CC SPC ITEM 05CITEM S• Ce
CITY OF - %400RPARK. CALIFORNIA
Citv CminCil Meeting
of /0 -30 -0
ACTION: n '"
5e11 4 'RDA 0,A-cL 4x4Aj^.r-- C-+14u
�Y•aP . YI ie-L� l� _ N.Si
AGENDA REPORT
CITY OF MOORPARK By; e d 1 A , V
TO: The Honorable City Council
FROM: Hugh R. Riley, Assistant City Manage
DATE: October 25, 2002(Special City Council meeting of
October 30, 2002)
SUBJECT: Consider Agreement To Sell 6479 Penn Street Unit B
to the Moorpark Redevelopment Agency
DISCUSSION:
On February 27, 2002 the City Council authorized the purchase
of 6479 Penn Street, Unit B with Community Development Block
Grant (CDBG) Funds. On October 8, 2002 the City Council
authorized the sale of the property to a third party.
In order to be in compliance with CDBG regulations as
interpreted by Ventura County the City needs to sell the
property to the Redevelopment Agency at the market price of
$250,000 and the agency can then sell the property to the
third party. The Redevelopment Agency will assume the
obligations of the City as provided in the sale agreement
with the third party. The proceeds of the sale will be placed
in the City's CDBG Program Fund and utilized for affordable
Housing Activities or other allowable purpose if approved by
the City Council.
RECOMbJENDATION:
Approve agreement to sell 6479 Penn Street, Unit B to the
Moorpark Redevelopment Agency and authorize the City Manager
to sign the agreement and related documents.
Attachment: Agreement
k
PURCHASE AND SALE AND ASSIGNMENT AGREEMENT
This Purchase and Sale and Assignment Agreement (the
"Agreement ") is made as of October 30, 2002, by and between the
City of Moorpark (the "City ") and the Moorpark Redevelopment
Agency (the "Agency ") who agree as follows:
1. Recitals. This Agreement is made with reference to the
following facts and circumstances:
(a) The City is the
in the County of Ventura,
6479 Penn Street, Unit
description of which real
"A ". That real property,
thereon, is referred to in
owner of certain real property located
State of California, commonly known as
B, Moorpark, California, a legal
property is attached hereto as Exhibit
together with all improvements located
this Agreement as the "Property ".
(b) The City is currently in escrow to sell the Property
to Tony and Cheryl Palacio (the "Buyers ") pursuant to a
Residential Purchase Agreement and Joint Escrow Instructions
(and Receipt for Deposit), dated September 27, 2002 (the
"Purchase Agreement ").
(c) The Agency desires to acquire the Property and the
City's rights and obligations under the Purchase Agreement from
the City and thereafter to sell the Property to the Buyers
pursuant to the Purchase Agreement.
(c) The City is willing to sell the Property and to assign
its rights and obligations under the Purchase Agreement to the
Agency on and subject to the terms and conditions set forth in
this Agreement.
2. Purchase and Sale; Assignment. Upon full execution of this
Agreement by the parties, the City agrees to deliver to the
Agency a grant deed (the "Deed ") in the form attached hereto as
Exhibit "B" conveying the Property to the Agency. The City also
hereby assigns all of its right, title and interest in and to
the Purchase Agreement to the Agency, and the Agency hereby
accepts that assignment and assumes and agrees to perform all of
the City's obligations under the Purchase Agreement. Upon
delivery of the Deed to the Agency, the Agency agrees to
immediately deliver the Deed to the escrow holder under the
Purchase Agreement with instructions that the Deed be recorded
in the Official Records of Ventura County, California
3. Consideration. In consideration for
conveyance and assignment, and upon full ex,
Agreement by the parties, the Agency agrees to
the sum of Two Hundred Fifty Thousand and
($250,000), which sum the City agrees to accept
for such conveyance and assignment.
the foregoing
scution of this
pay to the City
No /100 Dollars
in full payment
4. Further Assurances. The City and the Agency agree to
cooperate with one another in taking such further actions and in
executing and delivering such further documents as are
reasonably necessary or advisable in connection with the
consummation of the transactions contemplated by this Agreement
or by the Purchase Agreement.
5. General Provisions.
(a) This Agreement is governed by and is to be construed
in accordance with the laws of the State of California.
(b) No term or provision of this Agreement can be amended,
modified or waived orally or by a course of conduct, but only by
an instrument in writing signed by the City and the Agency.
This Agreement has been executed as of the date first set
forth above.
CITY OF MOORPARK MOORPARK REDEVELOPMENT AGENCY
JIM
Steven Kueny
City Manager
ATTEST:
Steven Kueny
Executive Director
ATTEST:
By: By:
Deborah S. Traffenstedt
City Clerk
Deborah S. Traffenstedt
Agency Secretary
EXHIBIT "A"
Legal Description of Property
Real property in the City of Moorpark, County of Ventura, State
of California, described as follows:
Lot 277 of Tract 2726 -3, in the City of Moorpark, County of
Ventura, State of California, as per map recorded in Book 80
Pages 84 to 87 inclusive of Maps, in the office of the county
recorder of said county.
Except all coal, lignite, coal oil, petroleum, naphtha, asphalt,
naltha, brea, natural gas, all kindred or similar minerals or
mineral substances, water and other rights reserved by Simi Land
and Water Company in deed recorded November 16, 1989 in Book 29
Page 314 of Deeds, and granted to Union Oil Company of
California, in the instrument recorded November 26, 1965 in Book
2902 Page 450, Official Records; without, however the right to
enter upon and use said land above a depth of 500 feet.
APN: 514 -0- 093 -155
EXHIBIT "B"
RECORDING REQUESTED BY AND
WHEN RECORDED RETURN TO:
REDEVELOPMENT AGENCY OF
THE CITY OF MOORPARK
799 Moorpark Avenue
Moorpark, California 93021
Attn.: Secretary
Exempt Recording Per
Government
Code Sections 6103 and 27383
Space Above This Line For Recorder's Use
GRANT DEED
A. P. NO.:
THE UNDERSIGNED GRANTOR DECLARES THAT THE MOORPARK REDEVELOPMENT AGENCY IS ACQUIRING TITLE AND IS
E=4PT FROM DOCUMENTARY TRANSFER TAX PURSUANT TO REVENUE 6 TAXATION CODE SECTION 11922
FOR VALUABLE CONSIDERATION, receipt of which is hereby
acknowledged, the CITY OF MOORPARK ( "Grantor "), hereby grants to the
MOORPARK REDEVELOPMENT AGENCY ( "Grantee "), all that certain real
property located in the City of Moorpark, County of Ventura, State of
California, described in Exhibit 111" attached hereto and incorporated
herein by this reference (the "Property ").
IN WITNESS WHEREOF, the undersigned has executed this Grant Deed
on this day of 2002, to be effective upon its
recordation in the Official Records of Ventura County, California.
GRANTOR:
CITY OF MOORPARK
By:
Its:
EXHIBIT "1" TO GRANT DEED
Legal Description of Property
Real property in the City of Moorpark, County of Ventura, State
of California, described as follows:
Lot 277 of Tract 2726 -3, in the City of Moorpark, County of
Ventura, State of California, as per map recorded in Book 80
Pages 84 to 87 inclusive of Maps, in the office of the county
recorder of said county.
Except all coal, lignite, coal oil, petroleum, naphtha, asphalt,
naltha, brea, natural gas, all kindred or similar minerals or
mineral substances, water and other rights reserved by Simi Land
and Water Company in deed recorded November 16, 1989 in Book 29
Page 314 of Deeds, and granted to Union Oil Company of
California, in the instrument recorded November 26, 1965 in Book
2902 Page 450, Official Records; without, however the right to
enter upon and use said land above a depth of 500 feet.
APN: 514 -0- 093 -155
EXHIBIT "1" TO GRANT DEED
Legal Description of Property
Real property in the City of Moorpark, County of Ventura, State
of California, described as follows:
Lot 277 of Tract 2726 -3, in the City of Moorpark, County of
Ventura, State of California, as per map recorded in Book 80
Pages 84 to 87 inclusive of Maps, in the office of the county
recorder of said county.
Except all coal, lignite, coal oil, petroleum, naphtha, asphalt,
naltha, brea, natural gas, all kindred or similar minerals or
mineral substances, water and other rights reserved by Simi Land
and Water Company in deed recorded November 16, 1989 in Book 29
Page 314 of Deeds, and granted to Union Oil Company of
California, in the instrument recorded November 26, 1965 in Book
2902 Page 450, Official Records; without, however the right to
enter upon and use said land above a depth of 500 feet.
APN: 514 -0- 093 -155