SR-02-27-1979-6SSanta Monica, California February 8, 1979
TO: Mayor and City Council / "�
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FROM: City Staff
L,L yL 1, (
FEB 2 7 1979
SUBJECT: Recommendation to accept bid for real property.
Bid No. 1427.
Introduction
This report concerns acceptance of bid of $43,100.00 for City -owned
real estate located on the corner of Ocean Park Court and Fourth Court.
The area is 2,635 square feet ( + / -). A Plat is attached. Although
located in a R -3 (Residential - Multiple Dwelling) zone, development
is limited to a single dwelling because of lot size. This land is the
remainder of a 5,080 square foot parcel acquired by the City for
$45,000.00 in gas funds for the widening of Ocean Park Avenue.
Background
In response to published Notice Inviting Bids for this property, sealed
bids were received and publicly opened and read in the City Council
Chambers February 7, 1979. Proposal packages were mailed to one hundred
forty -four (144) prospective bidders and notices were advertised in
accordance with City Charter and Municipal Code provisions. Five (5)
bids were received. The highest sealed bid received was $36,000.00.
In accordance with the bid provisions, a follow -on auction was conducted.
The highest bid at auction for this property was $43,100.00 submitted by
the partnership of Keewhan Ha and Dukryong Yun. This represents a price
of $16.356 per square foot. The acquisition cost was $8.85 per square foot.
Recommendation
It is recommended that the bid of Keewhan Ha and Dukryong Yun in the
amount of $43,100.00 be accepted as the highest and best bid.
Prepared By: R.N. Aronoff,
Purchasing Agent
to
F E b L 7 1919
OCEAN PARK
OCEAN PARK PLACE SOUTH
w
VAWTER'S FOURTH STREET TRACT
BLOCK' A , PORTION OF LOT IB
Reference:
Resolution No. 3182
(CCS)