Title
[Contract] Sale of City Property Located at the Northeast Corner of Fair Oaks Boulevard and Howe Avenue (APN 294-0110-012-0000)
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FileID
File ID: 2026-01385
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Location
Location: District 6
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Recommendation
Recommendation: Adopt a Resolution: 1) approving the Purchase and Sale Agreement ("PSA") with TCP Investco HFO, LLC ("TCP"), for the sale of the property located at the northeast corner of Fair Oaks Blvd. and Howe Ave., APN: 294-0110-012-0000 ("Property") for $400,000; 2) finding that selling the Property without first calling for competitive bids according to the procedures in City Code Chapter 3.88 is in the best interest of the City; 3) authorizing the City Manager or designee to execute the PSA, escrow instructions, and grant deed; and to take all actions and execute all additional documents as may be necessary to implement the property sale; 4) authorizing the City Manager or designee to pay the broker fee, escrow fees, assessments, transfer taxes, and other fees from the sales proceeds to complete the sale of the Property in accordance with the terms of the PSA; and 5) authorizing the City Manager or designee to deposit the net sales proceeds, after deduction for the Department of Public Works staff costs, into the Innovation and Growth Fund (Fund 2031) pursuant to City Council resolution 2015-0038.
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Contact
Contact: Richard Sanders, Facilities & Real Property Superintendent, (916) 808-7034, rsanders@cityofsacramento.org; James Christensen, Facilities Manager, (916) 808-5863, jechristensen@cityofsacramento.org; Department of Public Works
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Presenter
Presenter: None
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Attachments
Attachments:
1-Description/Analysis
2-Resolution
3-Purchase and Sale Agreement
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Description/Analysis
IssueDetail
Issue Detail: On November 15, 2022, per Resolution 2022-0352, the City Council declared the property located at the northeast corner of Fair Oaks Blvd. and Howe Ave. as "surplus property." On December 15, 2023, i...
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