03-27-2012 CC RPT 28 - Laserfiche WebLink

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RDA Property Disposition Guidelines • Page 4 Development of the properties detailed in Exhibit E will allow the City to realize its vision of promoting development and facilitating projects that are consistent with the goals and policies set forth in the City’s General Plan. It is recommended that the Council confirm that these certain Agency properties have enforceable obligations which must be met. Staff will return to Council as needed for each property to either implement the disposition as required pursuant to the current agreements or with new actions as may be necessary on a case by case basis. Properties to be Disposed AB 26 requires that disposition occur in a manner that maximizes value. These properties are being sold as directed by AB 26 and not pursuant to the traditional City or Agency processes for disposing of property. The former Redevelopment properties are not considered surplus, so Government Codes 54220, et seq. regarding surplus property disposition do not apply. Likewise, the provisions for disposition of property under Redevelopment law also do not apply. The properties that have been identified as appropriate for disposition are detailed in Exhibit F. Given the large number of properties in the Agency portfolio, it is important that the disposition occur in an orderly and strategic manner in order to ensure value is retained and prevent any negative impact on the community. A number of methods can be considered in the process for disposition and in order to aid in this process, the attached Property Disposition Guidelines (Exhibit G) have been prepared to give general parameters for consideration. It is anticipated that several preliminary steps will be necessary for the disposition of properties, including parcel consolidation for small undevelopable lots, lot line adjustments to facilitate orderly re-use, ordering preliminary title reports and obtaining independent third party appraisals (if necessary). Property Disposition Guidelines The Guidelines have been prepared in a manner to allow for flexibility in property disposition to maximize value, prevent re-establishment of blight, and maximize resources by utilizing any or all of the following methods on a case-by-case basis: 1. Staff Marketing Staff will market the properties by placing the property on multiple listing services, creating a marketing flyer, and placing “for sale” signs on the property. 2. Request for Proposals (RFP) The RFP process will allow the Successor Agency to directly identify and engage the most experienced and qualified buyers and sets parameters for purchase in a way to encourage maximum reinvestment in the property. At the conclusion of the RFP process, staff will return to the City as Successor Agency to report on the results of the RFP, make a recommendation for buyer selection, present purchase deal points, and request permission to present the deal points to the Oversight Board for final approval. 3. Unsolicited Proposals Should an unsolicited property purchase offer be received, which is not in response to any formal or informal request, staff will have the ability to take the purchase offer and proposed use directly to the City as Successor Agency and Oversight Board for consideration and