Title
Agreement for Purchase and Sale and Escrow Instructions with Bobby Hanada and Linda Hanada, Husband and Wife as Joint Tenants for the Purchase of Real Property at 301 East Balboa Boulevard
Recommendation
a) Determine this action exempt from the California Environmental Quality Act (CEQA) pursuant to Sections 15060(c)(2) (the activity will not result in a direct or reasonably foreseeable indirect physical change in the environment) and Section 15060(c)(3) (the activity is not a project as defined in Section 15378) of the CEQA Guidelines, California Code of Regulations, Title 14, Chapter 3, because this action will not result in a physical change to the environment, directly or indirectly;
b) Authorize the City Manager and City Clerk to execute the Agreement for Purchase and Sale of Real Property and Escrow Instructions, and all associated documents necessary to complete the purchase transaction, with Bobby Hanada and Linda Hanada, to purchase the property at 301 East Balboa Boulevard, for a price of $2,600,000 in a form substantially similar to the agreement attached to the staff report; and
c) Approve Budget Amendment No. 25-013 (Attachment B) to record a budget transfer of $2,832,000 from the General Fund to the General Fund CIP Fund where it will be expensed from 01201925-911047-25F11.