City Council

(12) 21-0624 CD 11 GOVERNMENT OPERATIONS COMMITTEE REPORT and ORDINANCE FIRST CONSIDERATION relative to the sale of City-owned property located at 17600 West Tramonto Drive, Los Angeles, California 90272 in Council District 11. Recommendations for Council action, SUBJECT TO THE APPROVAL OF THE MAYOR: DETERMINE that the property located at 17600 West Tramonto Drive, Los Angeles, California 90272, in Council District 11, is no longer required for City use and that the public interest is best served by the direct sale of the property. PRESENT and ADOPT the accompanying ORDINANCE, dated December 20, 2022, authorizing and providing for the sale of certain City-owned real property that is no longer required for the use by the City, without notice of sale or advertisement for bids, to Springhouse Hamilton Park, LLC, a California Limited Liability Company, or its nominees or lawful successors in interest, for the sum of $370,000. REQUEST the City Attorney to prepare the purchase and sale agreement based on the terms specified in the Ordinance for the sale of the property. INSTRUCT the Department of General Services (GSD) to complete the transactions outlined in the Ordinance, process the necessary documentation to execute the sale, and deposit the proceeds into the appropriate accounts, as directed by the Los Angeles Administrative Code and as approved to form and legality by the City Attorney. Fiscal Impact Statement: The Municipal Facilities Committee reports that the sale of City-owned property located at 17600 West Tramonto Drive in Council District 11 to Springhouse Hamilton Park, LLC for a total purchase price of $370,000 will have a positive impact on the Council District 11 Real Property Trust Fund and the General Fund, with fifty percent of the sales proceeds going into each Fund.