HomeMy WebLinkAboutAGENDA REPORT 2013 0605 CCSA REG ITEM 10O ITEM 10.0.
MOORPARK CITY COUNCIL 6.4 Council t0eef,ng
AGENDA REPORT 1 _..._. -b -
TO: Honorable City Council
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FROM: David C. Moe II, Redevelopment Manager
DATE: May 22, 2013 (CC Meeting of 6/5/13)
SUBJECT: Consider Resolution Authorizing the Acquisition of 224 Charles
Street, Amending the Fiscal Year 2012/13 Budget to Fund the
Purchase and Accepting the Grant Deed for Recordation
BACKGROUND AND DISCUSSION
The property located at 224 Charles Street ("Property") is listed for sale by Troop Real
Estate. The Property is 7,500 square feet in size and unimproved.
At the direction of the City Council, staff negotiated the purchase of the Property. The
negotiated purchase price for the Property is $180,000.00, which is subject to City
Council approval. The Property is being acquired for affordable housing purposes.
Staff recommends the City Council adopt Resolution No. 2013 - authorizing the
purchase of the Property and approving a $186,000.00 budget appropriation to fund the
purchase.
FISCAL IMPACT
A budget amendment in the amount of $180,000.00 for the acquisition plus $6,000.00
for escrow expenses is requested from the City Affordable Housing Fund (2201) to
close escrow for the purchase of the Property.
STAFF RECOMMENDATION (ROLL CALL VOTE REQUIRED)
1. Adopt Resolution No. 2013 - ;
2. Authorize the City Manager to execute all documents necessary to complete this
transaction; and
3. Authorize the City Clerk to accept and consent to the recordation of any deed.
Attachment "A" Resolution No. 2013 -
537
ATTACHMENT A
RESOLUTION NO. 2013 -
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, AMENDING THE FISCAL YEAR
2012/13 BUDGET BY APPROPRIATING $186,000 FROM THE
CITY AFFORDABLE HOUSING FUND (2201) FOR THE
ACQUISITION OF 224 CHARLES STREET
WHEREAS, on June 20, 2012, the City Council adopted the Operating and
Capital Improvement Budget for Fiscal Year 2012/13; and
WHEREAS, a staff report has been presented to the City Council recommending
acquisition of the property at 224 Charles Street for affordable housing purposes for
$180,000 plus $6,000 for escrow expenses; and
WHEREAS, a budget adjustment in the aggregate amount of $186,000 is
requested from the City Affordable Housing Fund (2201) to purchase the property; and
WHEREAS, Exhibit "A", attached hereto and made a part hereof, describes said
budget amendment and the resultant impact to the budget line item.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. A budget amendment in the amount of $186,000 from the City
Affordable Housing Fund (2201), as more particularly described in Exhibit "A", attached
hereto, is hereby approved.
SECTION 2. The City Manager shall have final approval to purchase the
property and execute all documents necessary to this transaction.
SECTION 3. The City Clerk shall certify to the adoption of this resolution and
shall cause a certified resolution to be filed in the book of original resolutions.
PASSED AND ADOPTED this 5th day of June, 2013.
Janice S. Parvin, Mayor
ATTEST:
Maureen Benson, City Clerk
Exhibit A— Budget Amendment
538
EXHIBIT A
FY 2012/13
BUDGET AMENDMENT FOR
CITY AFFORDABLE HOUSING FUND
ACQUISITION OF 224 CHARLES STREET
FUND ALLOCATION FROM:
Fund Account Number Amount
City Affordable Housing Fund 2201-5500 $ 186,000.00
Total $ 186,000.00
DISTRIBUTION OF APPROPRIATION TO EXPENSE ACCOUNTS:
Account Number Current Budget Revision Amended Budget
2201.2430.5088.9610 $ - $ 186,000.00 $ 186,000.00
Total $ - $ 186,000.00 $ 186,000.00
Approved as to Form:
539