City Council

6. RESOLUTION APPROVING A PURCHASE AND SALE AGREEMENT AND\nESCROW INSTRUCTIONS BETWEEN THE CITY AND D & S PARTNERS\nLLC FOR THE SALE OF CITY-OWNED PROPERTY AT 31729 AND 31735\nCOAST HIGHWAY (APNS 658-101-39; -40) AND DETERMING SUCH\nAPPROVAL TO BE EXEMPT UNDER THE CALIFORNIA\nENVIRONMENTAL QUALITY ACT\nRecommendations:\n(1) Adopt the Resolution titled, “A RESOLUTION OF THE CITY COUNCIL OF\nTHE CITY OF LAGUNA BEACH, CALIFORNIA, APPROVING A PURCHASE\nAND SALE AGREEMENT AND ESCROW INSTRUCTIONS BETWEEN THE\nCITY AND D & S PARTNERS LLC FOR THE SALE OF 31729 AND 31735\nCOAST HIGHWAY (APNS 658-101-39 AND 658-101-40), AUTHORIZING THE\nCITY MANAGER TO TAKE ACTIONS NECESSARY TO IMPLEMENT THE\nAGREEMENT, AND DETERMINING THAT SUCH APPROVAL IS EXEMPT\nUNDER THE CALIFORNIA ENVIRONMENTAL QUALITY ACT”;\n(2) Increase the estimated revenue from the sale of the property to $3,550,000;\n(3) Repay the internal loan to the Vehicle Replacement Fund in the amount of\n$1,000,000, as identified during the acquisition of 31796 South Coast Highway at\nthe September 20, 2022, meeting; and\n(4) Appropriate the remaining balance to the Future Fire Station No. 4 Capital\nImprovement Fund.\nAgenda Report