City Council

8. Approval of Purchase and Sale Agreement Between Robert L. Persson, Robert G. Wedeen,\nTasha Sounart, Kelsey Hendrix, Hunter Persson, Prestin Wittbrodt, and Robert G. Wedeen\nTrust, and the City of Burbank, For the Property Commonly Known As 110 W. Olive Street,\nLocated in the City of Burbank, County of Los Angeles, State of California, APN Nos. 2451-\n007-019, 2451-007-20 And 2451-007-026 and Amend the Fiscal Year 2025-2026 Budget by\n$13,500,000 – Community Development Department\nRecommendation:\n1. Find that the proposed acquisition of the subject property is being undertaken without\nplans for any specific use or development of the property at this time, and therefore the\nmere change in title ownership does not have the possibility of causing any potentially\nsignificant impact on the environment and therefore is exempt from environment review\nunder the California Environmental Quality Act pursuant to Pub. Res. Code § 21065,\nCEQA Guidelines §§ 15060(c)(2)-(3), 15061(b)(3), 15378). As such, no additional\nenvironmental analysis is required at this time;\n2. Find that the proposed acquisition of the subject property is consistent with the City’s\nadopted General Plan;\n3. Approve, as to form, the Purchase and Sale Agreement and Escrow Instructions and\nauthorize the City Manager to close escrow to finalize the purchase of the Property;\n4. Authorize the City Manager or his designee to execute the final Purchase and Sales\nAgreement Between Robert L. Persson, Robert G. Wedeen, Tasha Sounart, Kelsey\nHendrix, Hunter Persson, Prestin Wittbrodt, and Robert G. Wedeen Trust and the City of\nBurbank, for the property commonly known as 110 W. Olive Street, located in the City of\nBurbank, County of Los Angeles, State of California, APN Nos. 2451-007-019, 2451-\n007-20 and 2451-007-026 in the amount of $14,000,000;\n5. Amend the Fiscal Year 2025-26 Budget to appropriate $13,500,000, the remainder of\nthe sales price ($14,000,000 minus $500,000 deposit); and\n6. Authorize City staff to collect rent on the existing lease and appropriate the funds.\nSR - Purchase and Sale Agreement\nAtt1 - Agreement and Escrow\nAtt2 - Legal Description\n\nAtt3 - Survey\nAtt4 - Asbestos and Lead Paint Study\nAtt5 - Structural Assessment\nAtt6 - Environmental Site Assessment