Authorization to Enter into a Purchase and Sale Agreement for properties located at 8908 8910 8919 and 8921 Lindblade Street. City of Culver City California Redevelopment Agency Agenda Item Report Meeting Date: 09/18/06 AGENDA ITEM: Authorization to Enter into a Purchase and Sale Agreement for properties located at 8908 8910 8919 and 8921 Lindblade Street. Item Number: A 1 Contact Person/Dept.: Alicia Weintraub Phone Number: 310 253 5778 X No Action Item: X General Fund: Yes No X Attachments: X Fiscal Impact: Yes Public Hearing: Public Notification: Master Notification List (09/13/06) Published in the Culver City News (08/31/06 & 09/07/06). University of California Real Estate Office and Nooshin Malakzad (08/31/06). Department Approval: Susan Evans (09/06/06) City Controller Approval: Marlee Chang (09/13/06) Exec. Director Approval: Jerry Fulwood (09/13/06) RECOMMENDATION: Staff recommends the Culver City Redevelopment Agency (the Agency ) approve a purchase and sale agreement with the University of California for the purchase of properties located at 8908 8910 8919 and 8921 Lindblade Street. BACKGROUND: The properties being recommended for purchase are properties that are no longer being used by UCLA but were previously used as a storage facility and book bindery. The Agency is interested in purchasing these properties and then subsequently selling them to Nooshin Malakzad as an effort to further the Agency s redevelopment goals. Through the Agency s acquisition efforts on the triangle site the Agency acquired property located at 8831 Exposition Boulevard owned by Nooshin Malakzad. Nooshin Malakzad is a fashion designer who has owned her building in Culver City since 1998. She currently employees 14 people. Staff recommends purchasing these properties from the University of California and then subsequently selling them to Nooshin Malakzad as a relocation site for her business. DISCUSSION: The properties in question will suit Nooshin Malakzad as a replacement site a...
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