HomeMy WebLinkAboutPA 2007-7 - Purchase and Sale Agreement of Parcels Located on the Northeast Corner of Plaza Bonita Rd and Bonita Mesa Rd RESOLUTION NO. 2007— 7
RESOLUTION OF THE PARKING AUTHORITY
OF THE CITY OF NATIONAL CITY
AUTHORIZING CHAIRMAN TO EXECUTE
AN AGREEMENT OF PURCHASE AND SALE AND
JOINT ESCROW INSTRUCTIONS AND A GRANT DEED
WITH PLAZA BONITA II LP FOR THE SALE AND CONVEYANCE
OF PARCELS LOCATED ON THE NORTHEAST CORNER OF
PLAZA BONITA ROAD AND BONITA MESA ROAD
(APNS 570-020-46 AND 570-020-47)
WHEREAS, Plaza Bonita II LP has requested to acquire the Parking
Authority owned parcels located on the northeast corner of Plaza Bonita Road and
Bonita Mesa Road to facilitate the expansion of the Plaza Bonita Shopping Center; and
WHEREAS, Plaza Bonita intends to perform grading operations on the
subject parcels in order to enlarge the parking lot for the mall expansion, which is slated
for grand opening by March 2008; and
WHEREAS, the sale of the subject parcels to Plaza Bonita supports City
Strategic Plan Objective 2a of achieving fiscal sustainability, and completing the mall
expansion; and
WHEREAS, Plaza Bonita shall pay the Parking Authority the purchase
price of$265,000 for the subject parcels; and
WHEREAS, the acquisition price was determined to be the Fair Market
Value by an independent appraisal performed by Randall H. Blaesi, ASA.
NOW, THEREFORE, BE IT RESOLVED that the Parking Authority of
National City hereby authorizes the Chairman to Execute an Agreement of Purchase
and Sale and Joint Escrow Instructions and a Grant Deed with Plaza Bonita II LP for the
sale and conveyance of parcels (APNS 570-020-46 and 570-020-47) located on the
northeast corner of Plaza Bonita Road and Bonita Mesa Road. Said Agreement is on
file in the office of the City Clerk.
PASSED and ADOPTED this 18th day o ept-mber, 2007.
Ron Morrison, Cirinan
ATTEST. APPROVED AS TO FORM:
Br , Secretary George H. Eiser, Ill
Legal Counsel
Passed and adopted by the Parking Authority of the City of National City, California, on
September 18, 2007, by the following vote, to-wit:
Ayes: Boardmembers Morrison, Natividad, Parra, Ungab.
Nays: None.
Absent: Boardmember Zarate.
Abstain: None.
AUTHENTICATED BY: RON MORRISON
Chairman, Parking Authority
a , Parking Authority
By:
Deputy
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2007-7 of the Parking Authority of the City of National City,
California, passed and adopted on September 18, 2007.
,Se.cfet ry, Parking Authority
By:
Deputy