City Council

14. Agreement for Purchase and Sale and Escrow Instructions with Bobby\nHanada and Linda Hanada, Husband and Wife as Joint Tenants for the\nPurchase of Real Property at 301 East Balboa Boulevard\na) Determine this action exempt from the California Environmental Quality Act\n(CEQA) pursuant to Sections 15060(c)(2) (the activity will not result in a direct or\nreasonably foreseeable indirect physical change in the environment) and Section\n15060(c)(3) (the activity is not a project as defined in Section 15378) of the CEQA\nGuidelines, California Code of Regulations, Title 14, Chapter 3, because this action\nwill not result in a physical change to the environment, directly or indirectly;\nb) Authorize the City Manager and City Clerk to execute the Agreement for\nPurchase and Sale of Real Property and Escrow Instructions, and all associated\ndocuments necessary to complete the purchase transaction, with Bobby Hanada and\nLinda Hanada, to purchase the property at 301 East Balboa Boulevard, for a price of\n$2,600,000 in a form substantially similar to the agreement attached to the staff\nreport; and\nc) Approve Budget Amendment No. 25-013 (Attachment B) to record a budget\ntransfer of $2,832,000 from the General Fund to the General Fund CIP Fund where it\nwill be expensed from 01201925-911047-25F11.\nStaff Report\nAttachment A - Agreement for Purchase and Sale of Real Property and Escrow\nInstructions\nAttachment B - Budget Amendment No. 25-013\nAttachment C - Maps