SR-901-001 (7)
RMD:JM:JW:F:RESOURCE/STAFFREPORTS2004/Pacsmdisposition.doc
Council Meeting: March 23, 2004Santa Monica, California
To: Mayor and City Council
From: City Staff
Subject: Authorization to Negotiate Terms and Conditions for Disposition of
Real Properties Located at 1234 Fourth Street, 1320 Fourth Street
and 1431 Second Street
Introduction
The City of Santa Monica Redevelopment Agency owns various parking
structures in the downtown area. Parking Structure One, located at 1234 Fourth
Street, Parking Structure Three, located at 1320 Fourth Street, and Parking
Structure Six, located at 1431 Second Street, have been identified for possible
demolition for seismic retrofit and size considerations. These land sites are
potentially useable for a variety of purposes, including but not limited to,
replacement public parking structures.
Discussion
On January 9, 2003 the City Council, Redevelopment Agency and Parking
Authority took certain actions to accomplish the seismic retrofit and/or replacement
of the downtown parking structures. Specifically, the entities entered into a Sale
and Performance Agreement that transferred ownership of the structures from the
City and Parking Authority to the Redevelopment Agency, and required the Agency
to retrofit, replace and/or complete other improvements to the structures.
Disposition of these properties is not a part of any current defined City project.
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However, the Downtown Parking Plan approved by City Council recommended
the demolition and replacement of Parking Structures One, Three and Six.
If City Council authorizes staff to discuss possible disposition of these properties,
staff would return to Council and the Redevelopment Agency for further
authorization to dispose, transfer or lease the property on behalf of the City and
its Redevelopment Agency.
Budget/Financial Impact
No budget or financial impact is incurred as a result of action on this
recommendation. Any possible future budget or financial impact will be
subsequently identified and reported.
Recommendation
It is recommended that City Council authorize staff to explore possible disposition
of the real properties located at 1234 Fourth Street, 1320 Fourth Street, and
1431 Second Street by the City and the Redevelopment Agency.
Prepared by: Jeff Mathieu, Director of Resource Management
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