Legislation Details

File #: 14-6241    Version: 1 Name: Resolution Approving the Agreement of Purchase and Sale and Escrow Instructions between 421 S Milpas Llc, and the City of Commerce, for Land in the City of Santa Barbara, California
Type: Resolution Status: Agenda Ready
File created: 9/2/2026 In control: City Council
On agenda: 9/3/2026 Final action:
Title: RESOLUTION APPROVING THE AGREEMENT OF PURCHASE AND SALE AND ESCROW INSTRUCTIONS BETWEEN 421 S MILPAS LLC, AND THE CITY OF COMMERCE, FOR LAND IN THE CITY OF SANTA BARBARA, CALIFORNIA
Attachments: 1. 1-Staff Report, 2. 2-OM- WB- Blue Sands Inn- 421 S. Milpas, S.B., 3. 3-Reso_421 Milpas St_Santa Barbara_9-3-26, 4. 4-Blue Sands Inn Offer_City of Commerce Purchase and Sale Agreement_8.24.26

Title

RESOLUTION APPROVING THE AGREEMENT OF PURCHASE AND SALE AND ESCROW INSTRUCTIONS BETWEEN 421 S MILPAS LLC, AND THE CITY OF COMMERCE, FOR LAND IN THE CITY OF SANTA BARBARA, CALIFORNIA

Recommendation

It is recommended that the City Council consider:

1.                     Adopting the proposed Resolution approving the Agreement to Sell Land and Escrow Instructions between 421 S Milpas LLC, and the City of Commerce, for Land located at 421 S. Milpas Street, Santa Barbara, California, 93103; Assessor’s Parcel Number (“APN”) 017-313-012 and authorize the Mayor to sign the agreement on behalf of the City; and

2.                     Authorize a budget appropriation from the General Fund Stability Reserves for the acquisition of 421 S. Milpas Street, Santa Barbara, California, 93103 including the $6,550,000 purchase price and associated acquisition-related costs.