Title
Incorporated County of Los Alamos Ordinance No. 705; an Ordinance authorizing the sale of certain County-owned real property commonly known as 3661 and 3689 Trinity Drive.
Recommended Action
I move that Council approve Incorporated County Of Los Alamos Ordinance No. 705; An Ordinance Authorizing the Sale of Certain County-Owned Real Property Commonly Known as 3661 and 3689 Trinity Drive to Pet Pangaea, LLC, a New Mexico Limited Liability Company, and ask staff to assure that it is published as provided in the County Charter
County Manager's Recommendation
The County Manager recommends that Council approve this Ordinance, No.705.
Body
This Ordinance authorizes the sale of County-owned property identified as two parcels of land located at 3661 and 3689 Trinity Drive. These parcels have been vacant for a few years having previously been developed with single family homes, which were purchased by the County in support of potential public improvements along the Trinity corridor. The County no longer plans to use the parcels for this original purpose. Under specific circumstances when vacant County land becomes available, Council will consider disposing of such parcels in support of local business retention and expansion. As such, County Council instructed County staff to make these parcels available for sale under an open competitive solicitation.
A solicitation was issued by the County on October 15, 2020 with a deadline of November 6, 2020. Three proposals were submitted for consideration by Council with the Pet Pangaea submittal deemed the top selection.
The benefit to Los Alamos County is that a parcel of land that had been vacant will be developed and owned by a long-serving, vital local business. The project as proposed will be a 7000 square foot retail pet store on the ground floor with four residential units on the second floor.
The land is currently zoned Public Land (PL) and in order for the project to proceed as envisioned, the property will need to be rezoned to Mixed-Use (MU). The conceptual site plan submitted by the proposer shows that access into the parcel will be from 35th Street and not from Trinity. The Purchase, Sale and Development Agreement outlines the details of the sale and development expectations.
Council is authorized to sell county-owned real property and interests in real property through Chapter 14 of the Los Alamos County, New Mexico - Code of Ordinances. The attached appraisal dated October 5, 2020 estimated the combined market value of the parcels at $165,000 which is $8.25 per Square Foot (total sq ft 19,996.94). The buyer has submitted a purchase bid of $200,000.
The key terms are:
• Purchase price will be $200,000.
• Buyer agrees that the Property will be developed as a pet store on the ground floor and four (4) housing units on the second floor.
• The due diligence period for the project will be 120 days, with closing to be scheduled within 30 days after due diligence.
• Buyer agrees to have the project completed within 24 months of Closing on the parcel.
Fiscal and Staff Impact/Planned Item
There should be minimal staff impact as a result of the sale of these parcels.
Alternatives
Council denies the recommendation and asks staff to return with more information.
Attachments
A - Incorporated County of Los Alamos Ordinance No. 705 and Purchase Sale Agreement
B - Appraisal for 3661 and 3689 Trinity Drive
C - Pet Pangaea Proposal