CITY COUNCIL AGENDA ITEM
Meeting Date: November 14, 2000
Subject/Title: Option to Purchase Agreement for Agency Owned
Property at 159 Sycamore
Submitted by: Jon Elam, City Manager
Approved by: Jon Elam, City Manager
Authorize the City Attorney to prepare for the Executive Director’s
signature, an Option to Purchase Agreement for Agency owned property
at 159 Sycamore Avenue.
The City purchased property at 159 Sycamore Ave. on March 20, 2000. It was
purchased by the Agency to facilitate the clean-up of the neighborhood and
to create a re-use of the property to further housing goals of the City. The
Council still has to act on an amendment to our housing element to allow for
new affordable housing in the downtown area. Staff has been working with interested
parties who might redevelop this site. Mr. Robert Sherdel and Don Ferguson
have submitted a request to purchase this property for a price of $250.000.
This is equal to what the City purchased it for.
Mr. Sherdel, a Brentwood resident and builder, is interested in building a
ten-unit home ownership townhome development in the site which is zoned R3
and would allow for up to 16 units. Mr. Sherdel will present the Conceptual
Plan for the site and has agreed to develop a partnership with the Agency to
create affordable housing opportunities for local teachers or public employees.
This could be a very exciting re-use project.
Staff requests support to continue to explore the viability of this project
through the development of a one-year option agreement.