Item 7 - Disposition of Long's Drug Building
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AGENDA REPORT SUMMARY
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TO: Honorable Mayor and Members of the City Council
Honorable Chairman and Members of the
Redevelopment Agency
~ James L. Bowersox, City Man~
FROM:
INITIATED BY: John D. Fitch, Assistant City Manager
DATE: May 4, 1993
SUBJECT: Disposition of Long's Drug Building
ABSTRACT
It is recommended that the City Council/Redevelopment Agency declare the former Long's
Drug building as surplus property, authorize the disposal of the property and request
that the Redevelopment Agency's Economic Development Consultant initiate contact with
businesses that could potentially locate their business in the building.
ENVIRONMENTAL REVIEW
There would be no environmental impact resulting from the decision to sell the property
or the method utilized in the sale.
FISCAL IMPACT
It would improve the value of the property if the City/Redevelopment Agency was able to
locate a user to lease the building. The amount of the increase in value is difficult
to quantify at this time.
ADDITIONAL PUBLIC NOTIFICATION AND CORRESPONDENCE
None.
RECOMMENDATION <
It is recommended that the City Council/Redevelopment Agency (1) declare the Long's
Drug Store property as surplus and authorize its disposal; and (2) instruct the
Redevelopment Agency staff to attempt to locate a suitable user and/or purchaser of the
property.
ACTION
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~ AGENDA REPOR'.
CITY OF POW A Y
TO: Honorable Mayor and Members of the City Council
Honorable Chairman and Members of the Redevelopment Agency
FROM: James L. Bowersox, City Manager/Executive Dire~
INITIATED BY: John D. Fitch, Assistant City Manager/Assistant Executive
Director
DATE: May 4, 1993
SUBJECT: DisDosition of LonQ's DruQ BuildinQ
BACKGROUND
On March 10, 1992 the City Council/Redevelopment Agency authorized the purchase
of the former Long's Drug building to be used to house the Poway Library. As a
result of actions of the adjoining property owner, the City Council/Redevelopment
Agency has decided to not locate the library at this site. Since there is no
other public use that would necessitate the retention of this property, it is
recommended that the property be declared surplus and disposed of.
FINDINGS
There are several methods that could be used to dispose of this property. One
method would be for the City/Redevelopment Agency to list the property for sale
with a Real Estate Agent specializing in commercial property. Another method
would be for the City/Redevelopment Agency to locate a potential user for the
building and either sell the property to the user or lease the property to the
user and sell the property with the lease to a third party.
On April 13, 1993 the City Council/Redevelopment Agency authorized the hiring of
an Economic Development Manager, on a contractual basis, to in part attract new
businesses to Poway. The Economic Development Manager has a significant amount
of experience in economic development activities and real estate and could use
his skills to locate potential commerci a 1 users for the 24,000 square foot
building. Potential users could include, among other things, electronic stores,
major appliance store and furniture stores.
ACTION:
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Staff Report - Disposition of the Long's Drug Property
May 4, 1993
Page 2
ENVIRONMENTAL REVIEW
There would be no environmental impact resulting from the decision to sell the
property or the method utilized in the sale.
FISCAL IMPACT
It would improve the value of the property if the City/Redevelopment Agency was
able to locate a user to lease the building. The amount of the increase in value
is difficult to quantify at this time.
ADDITIONAL PUBLIC NOTIFICATION AND CORRESPONDENCE
None.
ECOMMENDATION
It is recommended that the City Council/Redevelopment Agency:
1. Declare the Long's Drug Store property as surplus and authorize its disposal.
2. Instruct the Redevelopment Agency staff to attempt to locate a suitable user
and/or purchaser of the property.
JLB/JDF
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