SR-901-001 (9)
RMD:JM:JW:F:RESOURCE/STAFFREPORTS2004/SantaMonicaBlvdproperties.doc
Council Meeting: May 11, 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 101 Santa Monica Blvd.,
and 129 Santa Monica Blvd.
Introduction
This report requests authorization to explore and negotiate the possible purchase
of property located at 101 Santa Monica Blvd., and 129 Santa Monica Blvd.
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 must create
interim and possibly permanent alternative parking facilities.
If City Council authorizes staff to explore the possible purchase of these
properties, and a proposed agreement to terms ensues, staff would return to
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Council and the Redevelopment Agency for 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. Future budget or financial impact will be identified and
reported.
Recommendation
It is recommended that City Council authorize staff to explore the possible
purchase of the real properties located at 101 Santa Monica Blvd., and 129
Santa Monica Blvd. by the City and the Redevelopment Agency.
Prepared by: Jeff Mathieu, Director of Resource Management
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