City Council

21.\nStaff recommends that the City Council approve a\nPurchase and Sale Agreement with Larry W. Hatter and\nCathleen E. Hatter, Co-Trustees of the Hatter Family Trust\ndated December 14, 1986, in the amount of $3,080,000 for\nthe purchase of 615 Mission Avenue, to be used by the City\nfor library-related purposes. The requested actions are\nfurther described below:\n1. Authorize budget appropriations from the General Fund\nAssigned Infrastructure Account in an amount not to\nexceed $3,622,630, for the acquisition of real property, due\ndiligence expenditures, and improvement expenses;\n2. Approve a Memorandum of Understanding with the\nOceanside Public Library Foundation and a Property Use\nAgreement with the Friends of the Oceanside Public\nLibrary;\n3. Authorize the City Manager to execute the Purchase\nand Sale agreement, the Memorandum of Understanding\nand the Property Use Agreement upon receipt of all\nsupporting documents;\n4. Authorize the City Manager, or his designee(s), to carry\nout the terms of the Purchase and Sale Agreement, and\nconsummate the closing of escrow for acquisition of the\nreal property upon receipt of all supporting documents; and\n5. Authorize the City Clerk to accept the Grant Deed for\nthe property.\n26-1275\nCity Council:\nA) Report by Vicki Gutierrez, Real Estate Manger\nB) Discussion\nC) Recommendation - approve a purchase and sale agreement