SR-901-006
RMD:EDD:DM:F:\RESOURCE\SHARE\STAFFREPORTS\BBB Acquisition-528 Colorado.doc
City Council Meeting: August 14, 2001 Santa Monica, California
To: Mayor and City Council
From: City Staff
Subject: Authorization to Negotiate Terms and Conditions for Acquisition of Real
Property Located at 528 Colorado Avenue
Introduction
The two-story commercial office property located at 528 Colorado Avenue immediately
adjacent to the Big Blue Bus maintenance and storage yards has been listed for sale on
the open market. The 6,260 square foot site is zoned C3, Downtown Commercial, and
is potentially useable for a variety of public purposes.
Discussion
Acquisition of property fronting on Colorado Avenue between Fifth and Sixth Streets is
not a part of any current defined City project. However, the commercial office building
at 528 Colorado Avenue listed for sale on the open market is suitable for a variety of
potential public purposes including, but not limited to, possible City operating offices,
community and/or human service offices, and/or possible Transportation Department
use.
If City Council authorizes staff to discuss possible acquisition of the property with its
owners or representatives, staff would return to Council for further authorization to
acquire the property on behalf of the City.
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Recommendation
It is recommended that City Council authorize staff to open preliminary discussions with
the owners or representatives of the real property located at 528 Colorado Avenue for
possible acquisition by the City at fair market value.
Prepared by: Jeff Mathieu, Director of Resource Management
Mark Richter, City Real Estate Manager
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