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, • ' , � <br /> COUNCIL COMMUNICATION FORM <br /> Economic & Urban Development Department Memorandum <br /> # 01-13 <br /> Date: February 14, 2001 <br /> TO: Honorable M or Terry M. Howley and City Council Members <br /> FROM: Steve Ga 'ty Manager <br /> A.J. Krieger istant City Manager <br /> SUBJECT: <br /> Carson Jeweler building and lease acquisition <br /> SUMMARY RECOMMENDATION: <br /> Staff recommends approval of this item. <br /> BACKGROUND: <br /> Attached to this memorandum is a resolution which, if approved, will authorize City staff to <br /> purchase the Carson Jeweler property and leasehold interest. The property at 300-304 N. Water <br /> is currently occupied by Main Store-Carson Jewelers, Inc., whose current lease extends through <br /> December 31, 2003. <br /> City staff has negotiated an agreement with the owners of the real estate for the purchase of both <br /> the property and Main Store-Carson Jewelers, Inc.'s leasehold interest. The agreement calls for <br /> the City to purchase the property for $170,000 and Main Store-Carson Jewelers, Inc.'s leasehold <br /> interests for $75,000. Per the agreement, the premises will be vacated on or before March 31, <br /> 2001. <br /> POTENTIAL OBJECTION: <br /> City staff is not aware of any objection. <br /> INPUT FROM OTHER SOURCES: <br /> The resolution and purchase agreement are attached to this memorandum. <br /> STAFF REFERENCE: <br /> If Council members have questions they may contact A.J. Krieger, 424-2727. <br /> BUDGET/TIME IMPLICATIONS: <br /> Pending approval, this acquisition will be funded through the City's line of credit and take place <br /> either later this month or early March. <br />