HomeMy WebLinkAbout2001-12-18; City Council; Resolution 2001-3811
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RESOLUTION NO. 2001-381
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CAIUSBAD, CALIFORNIA, AUTHORIZING THE MAYOR TO
EXECUTE ALL DOCUMENTS ASSOCIATED WITH THE
PURCHASE AND TRANSFER OF INTEREST IN 3340/3344/3348
MADISON STREET, APN 204-093-03 FROM RUSSELL L.
BENNETT LLC, APPROVING A LOAN FROM THE GENERAL
CAPITAL CONSTRUCTION FUND TO THE PARR IN LIEU
FUND - NW QUADRANT, AND APPROPRIATING FUNDS FOR
PURCHASE AND PAYMENT OF FEES AND EXPENSES
ASSOCIATED WITH THE PROPERTIES.
WHEREAS, the City Council of the City of Carlsbad has determined that it is in the best
interest of the City to acquire 3340/3344/3348 Madison Street from the current owner, Russell L.
Bennett LLC; and
WHEREAS, the City Council has further determined a purchase price of $396,500 for the
property is appropriate; and
WHEREAS, the acquisition of these properties is contingent upon a finding that the
acquisition is consistent with the Carlsbad General Plan and completion of due diligence.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Carlsbad, California as follows:
1. That the above recitations are true and correct.
2. That the Mayor is authorized to execute all documents associated with the
purchase and transfer of interest in 3340/3344/3348 Madison Street to the
City of Carlsbad.
3. That a loan of $100,000 for purchase of the property is authorized from the
General Capital Construction Fund balance to the Park In Lieu - Northwest
Quadrant Fund, to be repaid when sufficient funds are collected in the Park
In Lieu - Northwest Quadrant Fund.
Ill
Ill
Ill
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4. That an appropriation of $406,000 for purchase of the property, including all
associated fees and expenses is authorized from the Park In Lieu - Northwest
Quadrant Fund.
PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council on the
18th day of DECEMBER 2001, by the following vote to wit:
AYES: Council Members Lewis, Kulchin, Finnila, Nygaard
NOES: None
ABSENT: None
ABSTAINED: Council Member Hall
Mayor
ATTEST:
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