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Proposal to Sell 12 Surplus Properties at Public Auction

Proposal to Sell 12 Surplus Properties at Public Auction

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Published by Bill Rosendahl

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Published by: Bill Rosendahl on Aug 28, 2012
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08/28/2012

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;ITYOF
Los
ANGELL
CALIFORNIA
TONYM.ROYSTER
GENERALMANAGER
AND
CITYPURCHASlNGAGENT
DEPARTMENTOF
GENERALSERVICES
ROOM701
CITY
HALLSOUTH
I11EASTFIRSTSTREET
LOSANG~LES.CA90012(213)928-9555FAXNo.(2131928-9515
ANTONIOR.VILLARAIGOSA
MAYOR
August6,2012HonorableCouncilmembersCityofLosAngeles
C/O
CityClerkRoom395,CityHallLosAngeles,CA90012.Attention:ErikaPulst,LegislativeAssistantPROPOSALTOSELL12SURPLUSCITY-OWNEDPROPERTIESATPUBLICAUCTION
7'
VARIOUSLOCATIONS(CD
1,
S,
a,
11
AND
is)
SUMMARYTheDepartmentofGeneralServices(G80),AssetManagementDivision(AMD)proposestosellatpublicauction12surplusCity-ownedpropertieslocatedthroughouttheCity.ThepropertiesaresituatedinCouncilDistricts1,5,8,11and15.ThesepropertiesaremorefullydescribedintheattachedOrdinanceandNoticeofSale.AClass"C"estimateforeachofthepropertywasprovidedbystaffappraiserstodetermineeachproperty'sestimatedfairmarketvalue.Basedonthisestimateofvalue,aminimumopeningbidforeachparcelwasestablishedassetforthontheattachedOrdinanceandNoticeofSalein
order-to
encouragecompetitivebidding.PROPERTYDESCRIPTIONParcels1through4arevacantlots.Parcel1islocatedat1704W.JeffersonBlvd.levellotwithanapproximatelotsizeof4,760squarefeel.Parcel2islocatedat11514WillowbrookAve.,levellotwithanapproximatelotsizeof4,930squarefeet.Parcel3islocatedat1309IsabelStreet,hillsidewithanapproximatelotsizeof5,600squarefeet.Parcel4islocatedat164thandBonsalloStreets,levellotwithanapproximatelotsizeof5,930squarefeet.
ANEQUAL.EMPL.OYMENTOPPORTUNITY--AFFmM.A"~vEACTIONEMPLOYER
 
Parcels5through11areinPacificPalisades.Parcels8and11areresidentialsinglefamilyhomes,nowvacantwerepreviouslyrentedonamonth-to-monthbasis.Parcel8,locatedat15273DePauwStreetisathreebedroom,1.75baths,1,208squarefoothomebuiltin1947withanapproximatelotsizeof7,500squarefeet.Parcel11,locatedat15285DePauwStreetisa3bedroom,2baths,2052squarefeethomebuiltin1947withanapproximatelotsizeof7,500squarefeet.Parcel7,asinglefamilyhomelocatedat15229/15233DePauw,hasthreebedrooms,1.75baths,2,172squarefeetbuiltin1927,withanapproximatelotsizeof16,920squarefeet.ThepropertywasincludedintheApril25,2011publicauction,waswithdrawnduetoalawsuit,andhasbeensettledandnowvacant.Parcels5,6,9and10areallvacantlotswithapproximatelotsizethatrangefrom7,500to9,154squarefeet.Parcel11isoldFireStation43locatedat10234NationalBlvd.Palms.Lotsizeisapproximately11,064squarefeet,improvedwith4,885squarefootbuildingbuiltin1942,zonedR3-1.Thepropertywassoldinapreviouspublicauctionbutfailedtocloseescrow.
BACKGROUND
TheestablishedCityproceduresforsellingsurpluspropertyrequirethatthepropertybeofferedto.theappropriategovernmentalagenciesforparkandrecreationpurposes,openspace,orforlow-incomehousingpurposes.Noobjectionswerereceivedfromthenotifiedagenciesduringthespecified60-daywaitingperiod.TheBureauofEngineering(BOE),SurveySection,providedthelegaldescriptionsofthepropertiesandanyreservationorexceptionofportionsoftherealpropertyforeasementsorrightsrequiredbytheCitywereretained.TheCityPlanningDepartmentwasalsonotifiedofthesaleandconcurredwiththeproposaltosellthepropertyorwaiveditsresponserightstocommentonthesale.TheCouncilmembersinwhosedistrictsthepropertiesarelocatedhavebeennotifiedoftheproposedsaleandconcurinthesaleoftheproperties.ThesaleisanallcashsalewiththeCityrequiring,priortothecommencementofthebidding,a10%depositor$10,000.00,whicheverisless,oneachpropertybasedontheestablishedminimumopeningbid.Thesuccessfulbidder(buyer)mustdepositwithin10workingdaysfromthedateoftheauctionanadditionaldeposittomakethetotaldepositheldbytheCityequalto10%ofthepurchaseprice.Anypropertythatfailstocloseescrowwillbeofferedtothesecond,thenthird,andfinallytothefourthhighestbidderuponthesametermsandconditionsspecifiedintheOrdinanceandNoticeofSale.ThepropertiesaresoldASIS.TheCitywillpayforahomewarrantyprotectionforParcels7,and11(single-familyresidence)foraperiodofoneyearfromcloseofescrow,
2
 
withthebuyerpayinganyservicecalls.Parcel8isbeingsoldforlandvalueonly,Prospectivebuyerswillbeadvisedthatsomeofthepropertiesaresubjecttocertaingovernmentaland/orregulatoryrequirementsincludingtheHillsideOrdinanceintheZoningCodeoftheDepartmentofBuildingandSafety,theCity'sCoastalpoliciesandrequirementsoftheStateCoastalCommission.Theywillalsobeprovidedwithadditionalrealestatedisclosuresasrequiredbylaw.Thesalewillalsobesubjecttocovenants,conditions,restrictions,reservations,encroachments,easements,rights,andrightsofwayofrecordorwhichareapparentfromavisualinspectionoftheproperties,Theprospectivebuyershallpayallrecordingfees,documentarytransfertaxes,one-halfofescrowfees,policyoftitleinsurance,messengerservicefees,broker'scommission,ifany,otherrealestatetransactiontaxes,fees,orapplication,andpersonalpropertytaxeswhereapplicable.Thesuccessfulbidderwillalsoberesponsibleforasurveyofthepropertyathis/herexpense.Thebuyerhasthreemonthstoclosethesaleafterthedateofnotificationconfirmingthesale.However,ifpaymentisdeferredformorethantwomonthsafterthenoticeconfirmingthesale,interestatonepercent(1
%)
permonthorfractionthereofshallbechargedforeachmonthorfractionthereofinexcessoftwomonths.NETPROCEEDSOFSALETheproceedsofthesaleafterdeductingthecostofescrowandotherassociatedsalecostswillbedepositedinvariousaccountsincludingthePotreroCanyonTrustFundandtheGeneralFund,ThenetproceedsofthesaleoftheoldFireStationandtheothervacantlotswillbedepositedtotheGeneralFund.ThenetproceedsfromthesaleoftheparcelsinPacificPalisadeswillgobacktothePotreroCanyonTrustFund,FISCALIMPACTSTATEMENTThesaleofthepropertieswillgenerateone-timegrossrevenuetotheCityofapproximately
$9A08,OOO.OO
basedontheminimumbidsetforeachparcel,priortothepaymentofthecostsofsale.Thenetproceedswillbedepositedintheappropriateaccountsasprovidedbylaw.Thesalewilleliminatetheneedforcontinuedmaintenanceoftheproperties.Inaddition,itwillreturnthepropertiestotheCountytaxrollsandwillgenerateannualrevenuesfromthepaymentofpropertytaxes.RECOMMENDATIONThattheCityCouncil:1.Determinethattherealproperties,asdescribedontheencloseddraftOrdinanceandNoticeofSale,arenolongerrequiredfortheuseoftheCityandthatthepublicinterestornecessityrequiretheirsale;
3

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