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Title:
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Purchase, Sale and Development Agreement with Pelican Communities, LLC., for total sale price of $200, in lieu of receiving total value of the land of $1.83 million, the City will receive 60 dedicated parking stalls to support the Main Library at an estimated cost of $3.12 million, and title, escrow, and miscellaneous related closing costs for total not-to-exceed $10,000 shall be deducted from the $54,900 deposit, for City-owned vacant land, formerly known as the Downtown Terminal Property, for development of mixed-use student housing project at 3911 University Avenue and 3775 Fairmount Boulevard, identified as Assessor’s Parcel Numbers 214-252-019 and 213-261-029 (Community and Economic Development) (Ward 1) (10-minute presentation)
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