HomeMy WebLinkAboutAgenda Statement 1974/08/20 Item 09
AGEND~ ITEM, NO. [ 9 ]
CHULA VISTA CITY COUNCIL MEETING OF:
August 20, 1974
ITEM TITLE:
Resolution - Accepting bid for the sale of City-owned
property and authorizing the execution of
the purchase agreement.
INITIATED BY:
Purchasing Agent
BACKGROUND
On May 14, 1974, Council authorized the securing of formal bids for the sale
of two (2) parcels of City-owned vacant land located at the intersection of
the extension of Palomar Street and Oleander Avenue.
Notice of sale of said parcels of land was printed twice in the Chula Vista Star-
News in the form of a display ad. Ten real estate development companies in San
Diego County were mailed notices of the sale.
The only bid received was from the American Housing Guild - San Diego for Parcell
(4.35 acres) in the amount of $45,000.00 ($10,344.83 per acre).
The bid submitted by American Housing Guild is contingent upon the following
conditions:
1. The City Council approval of a tentative map for eighteen (18)
7,000 S.F. building lots. If a tentative map is approved for less
lots, the total purchase to be adjusted at the rate of $2,500 per
approved lot.
2. The conditions of approval for a tentative sub-division map being
acceptable to American Housing Guild.
ATTACHED:
Resolution [X]
Ordinance [ ]
Agreemen t [ ]
Plat [ ]
See EXHIBITS ~] No. 1-2
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Financial Statement:
N/A
Commission-Board Recommendation:
N/A
Department Head Recommendation:
City Manager Recommendation: The dollar offer appears fair~ The bid conditions
may eventually cancel out the offer if agreement
does not occur on the City's requirements on de-
velopment. We can enter escrow but closing of
escrow would be held pending clarification of
these bid conditions and acceptance. This property
was purchased by an appropriation from the General
Fund; therefore, it is recommended that sale of this
property should provide for return of the $45,000
to the General Fund.
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7/(7thf
,BID ~O.8-1974-75 .1
..
EXHIBIT
2
BID FORM
The undersigned, in compliance with the requirements of the City of Chu1a Vista,
hereby submi ts a bi din the amount of *P6rly- Five Thousand and no/100 - - - 0011 a rs
($ 45,000.00 ) for Parcell, parcel map 2886 filed July 26,'1974 in the office
.
of the County Recorder and the amount of No and no/100 - - - - - - - - - Dollars
($ 0
) for Parcel 2, parcel map 2886, filed July 26, .1974 in the office
of the County Recorder.
Accompanying this bid ;s a certified or cas.hier's check for $ 4,500.00
representing Ten percent (10%) of the amount bid.
BIDDER' American Housing, Guild - San Diego
SIGNATURE )fj ~
F. G. Linto , Jr., Vi -President
ADDRESS' 3247 Mission Village Drive
CITY: . , San Diego
STATE CA ZIP 92123
.
Telephone 714-277-8811.
DATE August 6~ '1974' . . . . . .
*This amount is based upon the City Council's approving a Tentative Map for eighteen (18)
7,000 SF building lots. If a Tentative Map is approved for less lots, our bid includes the
" provision that the total purchase price shall be adjusted at the rate of $2,500 per approved
lot. Also, the purchase by American Housing Guild - San Diego shall be contingent upon
conditions of approval for a Tentative Subdivision Map being acceptable toAmerican '
Housing Guild - San Diego. The length of the escrow shall be the time it takes for the City
to approve a Tentative Map on Parcell submitted by American Housing Guild - San Diego. .
- 3 -
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