TO: LINDA REICH, CITY MANAGER
FROM: FRED GALANTE, CITY ATTORNEY
SUBJECT
title
Purchase of Real Property at 13272 6th Street.
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RECOMMENDATION
recommendation
1) Adopt Resolution 2026-026, authorizing the Purchase and Sale of Real Property and Joint Escrow Instructions ("Purchase Agreement") to acquire a property at 13272 6th Street ("Property") from Terri Gillette, as Successor Trustee of the Sturzenegger Family Trust, and Kent H. Cheng, as Successor Trustee of the Langdon and Jo Ann Tannehill 1992 Trust (jointly the "Owner") in the amount of $2,500,000, including $11,000 for fees and other costs related to the sale; 2) appropriate $2,511,000 from the General Fund balance; and 3) authorize the City Manager to execute all necessary documents.
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FISCAL IMPACT
The acquisition was not previously anticipated and therefore not included in the FY 2025-26 Adopted Budget. Approval of the Purchase Agreement will utilize the remaining $1.8 million FY 2025-26 budget surplus and a portion of the $6.8 million available unassigned General Fund balance to cover the purchase in the amount of (i) the purchase price of $2,500,000, (ii) costs to conduct due diligence estimated at approximately $6,000, plus (iii) escrow fees and costs not to exceed $5,000. The City is also exploring other alternative funding sources to reimburse the General Fund.
CITY OF CHINO MISSION / VISION / VALUES / STRATEGIC ISSUES
The recommendation detailed above further the City's values and strategic issues that serve as key pillars on which identified priorities, goals, and action plans are built, by fostering:
* Positive City Image
* Responsible Long-Range Planning
Revenue:
Expenditure: 1009020-48000-MS267
Transfer In:
Transfer Out:
BACKGROUND
The Property at 13272 6th Street (APN 1020-282-12) is directly across from the Chino Civic Center. The Property consists of approximately 2.38 acres and is improved with a 70+ year old commercial building of approximately 67,000+ square feet,...
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