SR-901-001 (8)
RMD:JM:JW:F:RESOURCE/STAFFREPORTS2004/4thand5thstreets.doc
Council Meeting: April 27, 2004Santa Monica, California
To: Mayor and City Council
From: City Staff
Subject: Authorization to Negotiate Terms and Conditions for Possible
Purchase of Real Properties Located at 1301 Fourth Street, 1333
Fourth Street and 1324-26 Fifth Street
Introduction
This staff report requests authorization for staff to explore and negotiate the
possible purchase of property located at 1301 Fourth Street, 1333 Fourth Street
and 1324-26 Fifth Street. These land sites are potentially useable for a variety of
purposes, including but not limited to, replacement public parking structures.
Discussion
On April 9, 2002 the City Council adopted the Downtown Parking Plan which
called for the replacement of Parking Structures one, three and six. On January
9, 2003 the City Council, Redevelopment Agency and Parking Authority took
certain actions to accomplish the seismic retrofit and/or replacement of these
downtown parking structures. In order to consider and effect demolition and
replacement of these existing three parking structures, the City needs to create
interim and possible permanent alternative parking facilities.
If City Council authorizes staff to discuss the possible purchase of these
properties, staff would return to Council and the Redevelopment Agency for
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further authorization to purchase the property on behalf of the City and/or 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 the possible
purchase of the real properties located at 1301 Fourth Street, 1333 Fourth Street,
and 1324-26 Fifth Street by the City and the Redevelopment Agency.
Prepared by: Jeff Mathieu, Director of Resource Management
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