SR-07-25-1978-6JSanta Monica, Ca'ifornia, July 11, 1978
TO: Mayor and City Council
FROM: City Staff
SUBJECT: Recommendation to accept bid for real property
Bid No. 1384.
Introduction
bt ? 5 1978
This report concerns acceptance of a bid of $112,665.00 for City -
owned real estate located at the southeasterly corner of Kansas and
Stewart Streets. Two (2) buildings, each with two (1) one - bedroom
apartments, are located on the approximate 7,659 square foot lot.
A Plat is attached. All funds derived from sale of this property
will be placed in Gas Tax Revenue account number 44- 907 -180- 000 -000,
Sale of Property. This property originally was aquired for the
proposed_ widening_ of Stewart Street. A condition of the sale is a
revocable, encroachment, permit fori the, existing buildings and steps
until such time that the street is widened.
Background
In response to published Notice Inviting Bids for the sale of this
property, bids were received and publicly opened and read in the
City Council chambers July 10, 1978. Proposals were distributed to
118 prospective buyers and notices were advertised in accordance
with City charter and municipal code provisions. the unusually large
number of requests for proposal packets is the result of a series of
classified advertisments placed in the newspapers. Three bids were
received:
1 of 2
:P,
y
To: Mayor and City Council
George McHose $112,665.00
Stephen Wilson, Gary
Krupp & Virginia Krupp 111,502.00
Missak Azirian
All the above declined to participate in the follow -on auction
calling for an opening bid ten per cent (10 %) over the highest
sealed bid price.
Recommendation
It is recommended that the bid of George McHose, in the amount of
$112,665.00, be accepted as the highest and best bid for the City's
Kansas & Stewart Street property in view of the City's professionally
procured appraisal of $96,000.00.
Prepared by: R.N. Aronoff
Purchasing Agent
RNA: cg:ml
2 of 2
Reference:
Contract No. 3061
(CCS)