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I n <br />CITY OF <br />RIIVEIZSIDE <br />City Council Memorandum <br />City �JArts Unnovation <br />TO: HONORABLE MAYOR AND CITY COUNCIL DATE: NOVEMBER 16, 2021 <br />FROM: PARKS, RECREATION AND COMMUNITY WARD: 1 <br />SERVICES DEPARTMENT <br />SUBJECT: PURCHASE AND SALE AGREEMENT WITH DAVID KEIL HOLCOMB, <br />TRUSTEE OF THE D. AND D. HOLCOMB TRUST DATED MAY 23, 2016, FOR <br />THE ACQUISITION OF 5200 TEQUESQUITE AVENUE (ASSESSOR PARCEL <br />NUMBER 187-080-008) FOR 4.08 ACRES OF LAND FOR THE RIVERSIDE <br />GATEWAY PARKS PROJECT FOR $115,500; AUTHORIZE AN INCREASE IN <br />REVENUES AND APPROPRIATION IN THE AMOUNT OF $62,500 IN GRANT <br />FUNDS FROM THE CALIFORNIA STATE COASTAL CONSERVANCY <br />ISSUE: <br />Approve Purchase and Sale Agreement with David Keil Holcomb, Trustee of the D. and D. <br />Holcomb Trust dated May 23, 2016, for the acquisition of 5200 Tequesquite Avenue, APN 187- <br />080-008, ("Property"), for the Riverside Gateway Parks Project for $115,500, and authorize an <br />increase in revenues and appropriation in the amount of $62,500 in grant funds from the <br />California State Coastal Conservancy. <br />RECOMMENDATIONS: <br />That the City Council: <br />Approve the Purchase and Sale Agreement with David Keil Holcomb, Trustee of the D. <br />and D. Holcomb Trust, for the acquisition of 4.08 acres of land at 5200 Tequesquite <br />Avenue, identified as APN 187-080-008, for the purchase price of $115,500; <br />2. With at least five affirmative votes, accept increased grant award, authorize an increase <br />in estimated revenues in the amount of $62,500 and appropriate expenditures in the same <br />amount to the Grants and Restricted Programs Fund, Santa Ana River Coastal <br />Conservancy Project; <br />3. Authorize the City Manager, or his designee, to execute the Purchase and Sale <br />Agreement, including making minor and non -substantive changes, and to sign all <br />documents and instruments necessary to complete the transaction and to expend up to <br />$5,000 for due diligence, title, escrow, and miscellaneous related closing costs; and <br />4. Authorize the City Manager, or his designee, to execute all necessary documents, <br />including an updated grant agreement reflecting a grant increase, in order to carry out the <br />