...Title
Purchase and Sale Agreement for Property Located at 517 West Saint John Street.
...Recommendations
Adopt a resolution authorizing the City Manager, or designee, to:
(a) Negotiate and execute a Purchase and Sale Agreement between the City of San José and Arlethea K. Thorson, Trustee of the Survivor’s Trust of the Loren and Arlethea Thorson 1999 Trust, and Richard and Joan Della Maggiore, Trustees of the Richard Della Maggiore and Joan Della Maggiore Revocable Living Trust dated November 13, 1991, for the acquisition of the property known as 517 West Saint John Street, identified as Assessor’s Parcel Number 259-29-091, in the amount of $5,100,000 plus closing costs estimated at $10,000 and tenant relocation costs estimated at $275,000;
(b) Issue an I.R.S. Section 1033 exchange letter to seller; and
(c) Execute all other documents necessary to effectuate the transfer of property to the City.
CEQA: Initial Study/Addendum to the Downtown Strategy 2040 Final Environmental Impact Report for the Lot E Parking Structure Project (Resolution No 78942). Council District 3. (Economic Development and Cultural Affairs/Transportation)