CITY OF MERCED - File #: 20-214

• File #: 20-214
• Version: 1
• Type: Consent Item
• Status: Passed
• File created: 4/24/2020
• In control: City Council/Public Finance and Economic Development Authority/Parking Authority/Successor Agency to the Redevelopment Agency
• On agenda: 5/4/2020
• Final action: 5/4/2020
• Title: SUBJECT: Approval of Purchase and Sales Agreement Between the City of Merced and El Capitan Hotel Merced, LLC Exchanging Public Artwork for a Strip of Land (Walkway) Located Immediately West of the El Capitan Hotel Between 609 and 629 W. Main Street REPORT IN BRIEF Considers approving the terms of sale for a 1,286-square-foot strip of land previously used as a walkway located between 609 W. Main Street and 629 W. Main Street in exchange for one or more pieces of public artwork. RECOMMENDATION City Council - Adopt a motion approving the purchase and sale agreement between the City of Merced and El Capitan Hotel Merced, LLC, for the strip of land located between 609 W. Main Street and 629 W. Main Street (Assessor's Parcel Number 031-133-014); and, authorizing the City Manager or the Assistant City Manager to execute all the necessary documents.

Date	Ver.	Action By	Action	Result
5/4/2020	1	City Council/Public Finance and Economic Development Authority/Parking Authority/Successor Agency to the Redevelopment Agency	approved	Pass

Report Prepared by: Frank Quintero, Director of Economic Development

Title
SUBJECT: Approval of Purchase and Sales Agreement Between the City of Merced and El Capitan Hotel Merced, LLC Exchanging Public Artwork for a Strip of Land (Walkway) Located Immediately West of the El Capitan Hotel Between 609 and 629 W. Main Street

REPORT IN BRIEF
Considers approving the terms of sale for a 1,286-square-foot strip of land previously used as a walkway located between 609 W. Main Street and 629 W. Main Street in exchange for one or more pieces of public artwork.

RECOMMENDATION
City Council - Adopt a motion approving the purchase and sale agreement between the City of Merced and El Capitan Hotel Merced, LLC, for the strip of land located between 609 W. Main Street and 629 W. Main Street (Assessor's Parcel Number 031-133-014); and, authorizing the City Manager or the Assistant City Manager to execute all the necessary documents.

Body
ALTERNATIVES
1. Approve as recommended by staff; or
2. Approve, subject to conditions as specified by the City Council; or
3. Deny the request; or,
4. Refer back to staff for reconsideration of specific items as requested by the Council; or
5. Defer action until a specified date

AUTHORITY
Charter of the City of Merced, Section 200

CITY COUNCIL PRIORITIES
City of Merced Adopted Budget Fiscal Year 2019-2020, Section 07 - Economic Development and Airport, Goals - "Coordinate real estate and infrastructure development that will assist in the expanding and attracting more business investment."

DISCUSSION
El Capitan Hotel Merced, LLC, is in agreement with the terms contained in the Purchase Sale Agreement for the transaction of a 1,286-square foot strip of land located between 609 W. Main Street (El Capitan Hotel) and 629 W. Main Street (former Merced Uniforms) (ATTACHMENTS 1 & 2). The Buyer would pay a price of $10.00 for the strip of land, and in exchange for the full purchase price of $1,478.90, install one or more pieces of pub...