Sale of City-Owned Chevron and Johns Parcels on W. Gaines Street to Valencia Development Corporation for $8M
The Commission voted 3-2 to sell two city-owned parcels on W. Gaines Street (the Chevron and Johns parcels) to Valencia Development Corporation for $8 million without a competitive bid process. The Commission also approved a deviation from the Real Estate Policy that would normally require a second appraisal. Net proceeds will be deposited into the Deficiencies Reserve Fund.
How each commissioner voted
5 present
The Motion
“Voted 3-2 (Commissioners Matlow and Porter opposing) to approve the sale of city-owned parcels located on W. Gaines Street to Valencia Development Corporation, in the amount of $8,000,000, without competitive bid solicitation; authorized the City Manager or designee to execute documents; and approved a deviation from the Real Estate Policy requiring a second appraisal.”
Approve the sale of city-owned parcels located on W. Gaines Street, commonly referred to as the Chevron and Johns parcels, to Valencia Development Corporation, in the amount of $8,000,000
📄BoardDocs · Jul 7, 2021 packet · page ↗