City Council

21. City Council: Staff recommends that the City Council approve a 26-1275 Purchase and Sale Agreement with Larry W. Hatter and Cathleen E. Hatter, Co-Trustees of the Hatter Family Trust dated December 14, 1986, in the amount of $3,080,000 for the purchase of 615 Mission Avenue, to be used by the City for library-related purposes. The requested actions are further described below: 1. Authorize budget appropriations from the General Fund Assigned Infrastructure Account in an amount not to exceed $3,622,630, for the acquisition of real property, due diligence expenditures, and improvement expenses; 2. Approve a Memorandum of Understanding with the Oceanside Public Library Foundation and a Property Use Agreement with the Friends of the Oceanside Public Library; 3. Authorize the City Manager to execute the Purchase and Sale agreement, the Memorandum of Understanding and the Property Use Agreement upon receipt of all supporting documents; 4. Authorize the City Manager, or his designee(s), to carry out the terms of the Purchase and Sale Agreement, and consummate the closing of escrow for acquisition of the real property upon receipt of all supporting documents; and 5. Authorize the City Clerk to accept the Grant Deed for the property. A) Report by Vicki Gutierrez, Real Estate Manger B) Discussion C) Recommendation - approve a purchase and sale agreement 6:00 P.M.