Recommendation
A. Approve and authorize the City Manager to execute a Purchase and Sale Agreement with University Business Center Associates and JCB Limited for the City to acquire property at 130 Cremona Drive for $11,515,400.
B. Approve an appropriation of $575,000 to account 101-5-9101-704 from the General Fund’s Public Facilities Reserves to fund the purchase deposit for the property at 130 Cremona Drive.
Staff
Vyto Adomaitis, Neighborhood Services and Public Safety Director
Luke Rioux, Finance Director
Jaime Valdez, Senior Project Manager