HomeMy WebLinkAboutMINUTES - 02231999 - C199 TO: REDEVELOPMENT AGENCY
FROM: Phil Batcheior � ontr
Executive Director1��osta
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DATE: February 23, 1999 `"+ County
SUBJECT: Bay Point Property Acquisition
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIQNS
AUTHORIZE the Deputy Director - Redevelopment to execute Option Agreements with 9)
Mary Siino, an individual, and Barbara J. Siino and Anthony H. Siino, Co-Administrators of the
Estate of Horace Anthony Siino for Parcels 096-0320-968, 084, and 086; 2) Anthony Siino for
Parcel 096-020-077, and 3) Barbara Siino for Parcel 096-020-078, as recommended by the
Bay Point Redevelopment Project Area Committee.
FISCAL IMP'A T
No General Funds involved. The $1,195,000 acquisition price would be paid from budgeted
Bay Point Redevelopment Area tax increments.
BACKGROUND/REASONS FOR RECQMMENDATIC)NS
The Bay Point Redevelopment program has focused attention on the North Broadway area.
Comprehensive infrastructure improvement code enforcement, and infill housing are being
coordinated to maximize impact. The approximate eight acre Siino holdings represent a
significant infill housing opportunity that will re-connect the North Broadway/Poinsettia area
with the Highway/Siino Ave. areas (see Map A).
CONTINUED ON ATTACHMENT: XX YES SIGNATURE: s
RECOMMENDATION OF EXECUTIVE DIRECTOR _____,, R COMMEN 'AT ION OF' A NCY
COMMITTEE APPROVE OTHER .'
i
SIGNATURE(S):
ACTION OF AGENCY ON February 23, 1999 APPROVED AS RECOMMENDED X OTHER
VOTE OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS IS A
X UNANIMOUS (ABSENT None ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE REDEVELOPMENT
AGENCY ON THE DATE SHOWN.
Contact: Jim Kennedy
335-1255 ATTESTED February 23, 1999
prig: Redevelopment Agency PHIL BATCHELOR
cc: County Administrator AGENCY SECRETARY
County Counsel
Public Works - Real Property
Auditor-Controller BY!!& � , DEPUTY
via Redevelopment
Bay Point PAC
Siino Family Trust
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Most of the Siino holdings were formerly used as a junk yard. Because of this prior use
the Option Agreements provide the Agency the opportunity to conduct its own hazardous
materials studies prior to any exercise of the option. A hazardous materials study
commissioned by the Seller, that focused solely on surface materials, ;identified only minor
surface problems. The Agency, exercising prudence, will conduct additional studies and
bore to the groundwater. The option would not be exercised or would be renegotiated if
significant hazardous material issues are identified.
An appraisal by the property was completed and negotiations with the property owners
successfully concluded at the price of$1,195,000 option price for the five parcels. The
parcels are primarily designated single family Residential-High density in the County
General Plan with a mixed use designation on the Willow Pass frontage, The
Redevelopment Agency intends to re-offer the property for development, possibly as part
of a larger assemblage of properties.
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