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AGENDA REPORT
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| | | | | | | | DATE:
| April 6, 2021
| TO:
| Mayor and City Council
| FROM:
| Stefan T. Chatwin, City Manager
| | SUBJECT: | Resolution 2021-67 of the City Council of the City of Fairfield Approving the Agreement of Purchase and Sale of Easement between the City of Fairfield and Buzz Oates Development, LP for the Sale of an Easement Located Off of Cordelia Road in Fairfield, CA (APNs 0046-300-280 & 270) |
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| | | | | | | | | RECOMMENDED ACTION | | Adopt resolution. |
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| | | | | | | | | STATEMENT OF ISSUE | | The City of Fairfield (the “City”) and Buzz Oates Development, LP (“Buzz Oates”) would like to enter into the proposed Agreement of Purchase and Sale of Easement (“Agreement”) for the sale of an easement over the City’s parcels located off of Cordelia Road more commonly known as APNs 0046-300-280 & 270 (collectively “the Property”). |
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| | | | | | | | | DISCUSSION | On October 30, 2012, Buzz Oates and the City entered into an Option Agreement and Escrow Instructions (“Option Agreement”). The Option Agreement specified the City’s agreement to sell a larger piece of property to Buzz Oates should Buzz Oates need to build a detention basin to support the development on their adjacent properties located at 2925 Cordelia Road and 2975 Cordelia Road. Ultimately, Buzz Oates was able to build the necessary detention basin on their own property, but now needs to construct a drainage ditch across the City’s Property.
Because the drainage ditch was not covered under the Option Agreement, Buzz Oates needs to purchase an easement for the drainage ditch, that will allow them access to maintain as needed.
The City agrees to sell Buzz Oates an easement at the appraised value of $700.00.
The proposed Agreement states the terms by which the City will sell the easement including the requirement that Buzz Oates terminate the existing Option Agreement and any future rights to the Property.
The attached Resolution approves the Agreement and authorizes the City Manager to execute all documents necessary for the acquisition of the Property.
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| | | | | | | | | FINANCIAL IMPACT | | The City will receive payment of $700.00 for the easement. The funds will be deposited into the City’s Intergovernmental Loan Fund 551-99-203-7301. |
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| | | | | | | | | PUBLIC CONTACT/ADVISORY BODY RECOMMENDATION | N/A
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| | | | | | | | | ALTERNATIVE ACTION | | The City Council can choose not to approve the transaction and terminate the Agreement with the parties. |
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| | | | | | | | | COORDINATED WITH | City Attorney's Office
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| REVIEWERS: | | Reviewer | Action | Date | | Alexander, Amber | Approved | 3/29/2021 - 11:51 AM |
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