REPORT TO COUNCIL
SUBJECT
Title
Authorize the City Manager to Execute a Purchase and Sale Agreement Between the City of Sunnyvale and Collins Exempt Holdings LLC and Collins Family Holdings LLC for the Purchase of 922 E. California Avenue, and Approve Budget Modification No. 21 in the Amount of $4,406,800
Report
BACKGROUND
The City of Sunnyvale, as an adjacent property owner, was advised by the listing real estate broker that the property at 922 E California is up for sale at an asking price of $4,356,800.
EXISTING POLICY
Council Policy 1.2.7 Acquisition, Leasing and Disposition of City-Owned Real Property
Section 1: Acquisition of Real Property for Municipal Purposes
Real property shall be acquired for current or future municipal purposes, and/or to benefit the community. The City shall acquire real property in accordance with Sunnyvale Municipal Code Chapter 2.07.
Council Policy 7.1B.1.6 - Revenue Base - One-time revenues should not be used for ongoing expenditures.
Pursuant to Sunnyvale Charter Section 1305, at any meeting after the adoption of the budget, the City Council may amend or supplement the budget by a motion adopted by affirmative votes of at least four members to authorize the transfer of unused balances appropriated for one purpose or another, or to appropriate available revenue included in the budget.
ENVIRONMENTAL REVIEW
Approving a Purchase and Sale Agreement for the purchase of real property does not require review under the California Environmental Quality Act ("CEQA") pursuant to CEQA Guidelines section 15004(b)(2)(A), which provides that an agency "may enter into land acquisition agreements when the agency has conditioned the agency's future use of the site on CEQA compliance." The City's immediate plans for the site will be consistent with the previous commercial uses. Any future construction or expansion will be subject to appropriate CEQA review.
DISCUSSION
The property at 922 E. California Avenue is located across E. Californi...
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