Approval of a Purchase and Sale Agreement with Asher Harel Regarding City Owned Property Located at 10745 Cranks Road. Meeting Date: 03/10/2014 CITY COUNCIL AGENDA ITEM: Approval of a Purchase and Sale Agreement with Asher Harel Regarding City Owned Property Located at 10745 Cranks Road. Contact Person / Department: Joe Susca/CDD Todd Tipton/ CDD Fiscal Impact: Yes X No Public Hearing: Commission Action Required: Yes No X Date: _______________ Public Notification (E Mail) Meetings and Agendas City Council (03/04/14); The Culver City Chamber of Commerce (02/24/14); Cavanaugh Realtors (02/24/14); Asher Harel (02/24/14); Via U.S. Post: A total of 170 businesses residents and property owners in excess of 500 feet of the property (02/24/14) Department Approval: Sol Blumenfeld (2/28/14) Charles Herbertson (2/20/14) Chief Financial Officer Approval: Jeff Muir (by M. Noller) (03/04/14) Phone Number: (310) 253 5763 (310) 253 5783 General Fund: Yes X No Attachments: City Manager Approval: John M. Nachbar (03/04/14) City Attorney Approval: Heather Baker (03/04/14) Action Item: X City of Culver City California Agenda Item Report Item Number: C 2 RECOMMENDATION: Staff recommends the City Council approve a Purchase and Sale Agreement with Asher Harel for the sale of the City owned property located at 10745 Cranks Road in the amount of $900 000. BACKGROUND: In February 2005 a landslide created by extensive rain resulted in 10745 Cranks Road (the Property ) being deemed uninhabitable. The City repaired the landslide area and acquired the Property under the terms of a settlement agreement. Following acquisition by the City the existing improvements were demolished and the Property has remained vacant. On March 26 2013 the City Council authorized staff to release a Request for Qualifications (RFQ) to secure a real estate agent to market and sell the Property for development consistent with the existing zoning. Staff completed the RFQ process interviewed respondents and verified refe...
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