Report Prepared by: Frank Quintero, Deputy City Manager and Director of Economic Development
Title
SUBJECT: Request from Valley Children's Hospital to Approve a Second Amended and Restated Grant Deed
REPORT IN BRIEF
Valley Children's Hospital (VCH) is requesting approval of Second Amended and Restated Grant Deed with changes to the terms related to Covenant to Construct and Repurchase Price.
RECOMMENDATION
City Council - Adopt a motion:
A. Approving the Second Amended and Restated Grant Deed between the City of Merced and Valley Children's Healthcare for 301 E. Yosemite Avenue (Assessor's Parcel Number 231-040-021); and,
B. Authorizing the City Manager to execute all the necessary documents.
Body
ALTERNATIVES
1. Approve as recommended by staff; or,
2. Provide staff direction; or,
3. Refer to staff for reconsideration as requested by the City Council; or,
4. Defer action until a specific date; or,
5. Deny.
AUTHORITY
Section 200 of the Merced Municipal Code.
CITY COUNCIL PRIORITIES
As adopted in the Fiscal Year 2024-2025 Budget.
DISCUSSION
Background
Valley Children's Healthcare entered into an agreement to purchase 4.54 acres form the City of Merced (Purchase and Sales Agreement) on February 19, 2019, as approved by the City Council. The subject site was purchased at a price of $2.1-million and the City received the funds. The subject is located at 301 E. Yosemite Avenue immediately east of the Yosemite Crossing commercial center (Attachment 1.)
Subsequently, VCH received Site Plan Review approval on January 16, 2020. During the Site Plan Review meeting, VCH's design team requested staff to re-evaluate the need and improvements for Children's Way. City staff assessed vacating Children's Way allowing for more site plan flexibility. Working on VCH's request to vacate the Children's Way right-of-way required coordination with the former owner, The Wathen Group, and the City of Merced. Processing the required right-of-way vacations to...
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