Housing Successor Agency
MEETING DATE: 8/8/2018
TITLE:
Title
Authorization of a Vacant Land Listing Agreement
End
FROM:
Tami E. Scott, Administrative Services Director
RECOMMENDATION:
Recommendation
Staff recommends the City Council authorize execution of a Vacant Land Listing Agreement with Mario Perez, REMAX Consultants for disposition of fourteen scattered in-fill housing lots located throughout the City.
Body
BACKGROUND:
The City and the City, in its capacity as the Housing Successor to the former Cathedral City Redevelopment Agency, currently owns 14 vacant scattered lots throughout the city limits. One year ago, an RFP was completed to assist in the disposition of many Housing owned scattered infill vacant lots. The recommended outcome was to list the properties with Mario Perez, REMAX Consultants. The listing agreement was for one year and staff is recommending the City Council, in its capacity as Housing Successor Agency renew the listing agreement with Mario Perez, REMAX Consultants for the remaining parcels for an additional year.
DISCUSSION:
The original listing agreement consisted of 44 various infill parcels around the city. Concurrently, the City Urban Revitalization ("CURC") also listed their vacant infill parcels. To date, all the CURC infill parcels have been sold and that is consistent with the Housing parcels with few exceptions. Currently, there are 14 remaining Housing parcels that would be relisted. Nine of these parcels have proven extremely difficult to sell due to their location (north end of the city, just south of the railroad tracks) with no access and no infrastructure. Of the five remaining, one parcel has had difficulty due to its cost to hook up to sewer and the remaining four have been identified to have been held for an extended period of time and are now required to be sold.
FISCAL IMPACT:
All sales proceeds resulting from the vacant land listing agreement with the City as the Housing Successor Agency will be deposited into a restricted fund wherein the monies can only be used for affordable housing purposes. Any commissions or fees resulting from a sales contract resulting from this listing agreement will be derived from the sales proceeds, hence there is no additional cost of entering into this agreement.
ATTACHMENTS:
Vacant Land Listing Agreement
Parcel List