Report Prepared by: Frank Quintero, Director of Economic Development
Title
SUBJECT: Purchase and Sale Agreement and Lease Agreement Between the McClatchy Newspaper, Inc., and the City of Merced for the Property at 3033 North G Street
REPORT IN BRIEF
Agreement to purchase the Merced Sun-Star property from McClatchy Newspaper, Inc. for $1.62 million for use as a future Police Headquarters, and rent the facility back to McClatchy for one-year.
RECOMMENDATION
City Council - Adopt a Motion:
A. Approving transfers from Public Facilities Financing Fees-Police in the amount of $816,000 from Fund 47 and $816,000 from Fund 57 to Fund 449; and,
B. Appropriating the same to Project #116040 New Police Headquarters; and,
C. Approving the Purchase and Sales Agreement and associated Lease Agreement between the City of Merced and McClatchy Newspapers, Inc.; and,
D. Authorizing payment to the current owner, McClatchy Newspapers, Inc.; and,
E. Authorizing payment of all fees associated with the property acquisition, i.e., document recording, escrow fees, deposit, parcel reconveyance; and,
F. Authorizing the City Manager or Assistant City Manager to execute all necessary documents.
Body
ALTERNATIVES
1. Approve as recommended by staff; or,
2. Approve subject to amended conditions to be addressed in the City Council motion; or,
3. Deny; or,
4. Refer back to staff for reconsideration of specific items as requested by Council; or,
5. Continue item to a future City Council meeting (date and time to be specified in City Council motion.)
AUTHORITY
Charter of the City of Merced, Section 200
CITY COUNCIL PRIORITIES
Fiscal Year 2017-2018 Budget, Section 10, Public Safety - Police, Goals, "Police Headquarters - Finish negotiations with property owner to obtain the selected site for a new Police facility."
DISCUSSION
The Merced City Council directed staff to pursue buying the Merced Sun Star facility with the intention of building the City's future Police H...
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