City Council Agenda
Memo to: Manteca City Council
From: Don Smail, Economic Development Manager
Date: June 18, 2019
Subject: Authorization to Sell Certain City Properties at Auction
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Authorization to include 282 N. Airport Way and 2215 Daniels Street in the Auction for the Successor Agency Properties; provide direction to staff related to the disposition of other vacant parcels to be discussed.
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Background:
On January 16 2018, the Manteca Successor Agency to the Manteca Redevelopment Agency approved the selection of LEEbid Property Auction Group and Lee and Associates - Central Valley ("LEEbid") to provide professional real estate consulting services to conduct a public auction of several former properties of the Manteca Redevelopment Agency. Services included preparation of a "Broker Opinion of Value" (BOV) to help determine the reserve price that would be used as a starting price point in the auction projects. The BOV report was prepared and submitted to staff for review on March 14, 2018 (Attachment A).
The auction process was delayed due to a boundary conflict with one of the parcels and a recent recommendation that all the former redevelopment parcels be appraised prior to sale at auction. Since the two former redevelopment properties are going to be promoted as part of a nation-wide marketing effort using conventional and internet-based outreach efforts, city staff decided to look at other city-owned properties we might be able to include in order to draw even more interest in the auction.
As part of the due diligence process in preparing for the auction, City staff discovered that one of the properties located at 555 Industrial Park Drive (former Qualex property) was still affected by an unresolved boundary line dispute pertaining to an adjacent parcel owned by the Carnegie Group, a boundary issue dating back to the original acquisition. In order to avoid that issue having an effect on the proposed auction, City staff negotiated wi...
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