Housing Successor Agency
MEETING DATE: 6/13/2018
TITLE:
Title
Disposition of Certain Housing Parcel
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FROM:
Tami E. Scott, Administrative Services Director
RECOMMENDATION:
Recommendation
Staff recommends the City Council, acting as the Housing Successor Agency, consider the sale of one vacant housing parcel in the amount of $22,000.
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BACKGROUND:
The City, in its capacity as the Housing Successor to the former Cathedral City Redevelopment Agency ("HS"), has received an offer to purchase one vacant lot owned by the Housing Successor from Maria de Jesus Romero Raygoza or assignee for APN 675-030-022, which is located in the far northern part of the city near the railroad tracks. The referenced parcel does not have a physical address as it is in the desert with no street access but is in the vicinity of the future Verano Road to the north and east of Landau Blvd. As indicated, this is a paper lot, meaning no streets, curbs, gutters, sidewalks, sewers or storm drains.
DISCUSSION:
The offer price for the R1 zoned, 1.46-acre parcel is $22,000. The original acquisition price by the Housing Agency was $10,640. The parcel has been listed on MLS for almost a year at $30,000 with virtually no interest in the property. Due to the previously referenced development impediments and lack of access and infrastructure to the parcel, staff recommends Council to direct staff to accept this offer, sales proceeds would be deposited into the Housing fund and the fund would be made whole. The proceeds, less 50% of escrow fees, title costs and commission, could then be used for maintenance and assessment costs associated with our remaining housing land inventory. The referenced property is not property previously dedicated for public purpose by map or deed; it is not surplus property and it is not required to be disposed via a Department of Finance approved Long Range Property Management plan.
FISCAL IMPACT:
$22,000 net of closing costs to the Housing Fund
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