FROM:
Engineering
SUBJECT:
Title
Resolution of the City Council of the City of Fontana, California Approving a Purchase and Sale Agreement Between the City of Fontana and SA Golden Investments, Inc. for Assessor’s Parcel Numbers 0228-151-62-0000 and 0228-151-66-0000
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RECOMMENDATION:
Recommendation
1. Adopt Resolution No. 2026-028, approving a Purchase and Sale Agreement between the City of Fontana and SA Golden Investments, Inc. for Assessor’s Parcel Numbers 0228-151-62-0000 and 0228-151-66-0000.
2. Authorize the City Manager to sign any documents necessary or appropriate to approve and enter into a Purchase and Sale Agreement.
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COUNCIL GOALS:
• To invest in the City’s infrastructure (streets, sewers, parks, etc.) by maintaining and improving the city's existing infrastructure.
DISCUSSION:
This staff report pertains to 458.38 square feet of City-owned land on the east side of Lieutenant Corporal Fernando Temayo Drive, located west of Citrus Avenue. The land includes two separate pieces of land, as shown in Exhibit B of the previously approved Resolution 2025-107 (Declaration of Surplus Land). The first area contains 22.78 square feet, and the second area contains 435.6 square feet. The two pieces of land are adjacent to Assessor Parcel Number 0228-151-02-0000 and make up the remnant portions of property set aside through Final Tract Map 17389 that was previously dedicated in fee to the City for landscape and maintenance purposes. The City no longer needs these two pieces of land for landscape and maintenance purposes and they have already been declared exempt surplus land per approved Resolution No. 2025-107. The Buyer previously made an unsolicited offer to purchase this currently vacant and undeveloped exempt surplus property for $2,500.00 based on an Appraisal attached to this report.
The City of Fontana (“City”) has negotiated a Purchase and Sale Agreement (“PSA”) with SA Golden Investments, Inc. (“Buyer”) regarding the purchase and sale of certain real property identified as Assessor’s Parcel Numbers 0228-151-62-0000 and 0228-151-66-0000 (“Property”). The City desires to sell the Property to Buyer under the terms set forth in the PSA.
Staff has reviewed the terms and conditions of the PSA and determined that the agreement is fair, reasonable, and in the best interests of the City and the public. City will pay an amount, not to exceed, the appraised value of the properties towards the combined total cost and expenses incurred in the escrow transaction. Buyer agrees to pay all other costs of escrow which exceed the appraised value of the properties. Staff recommends approval of the PSA to allow the sale of the Property to proceed in accordance with the negotiated terms.
FISCAL IMPACT:
The appraised value of the properties, $2,500.00, would result in revenue to the City of Fontana. The City will contribute, up to, the appraised value of the properties towards costs and expenses during the escrow transaction. Buyer shall pay all other costs of escrow which will result in no fiscal impact to the City.
MOTION:
Approve staff recommendation.