Speaker 6: Motion carries.
Speaker 0: In 38.
Speaker 4: Sergio Again.
Speaker 0: Yes, again, this is a the same kind of this is another property also by Raintree. This one out 127 through 135 East Broadway. Again the during the Jones period. It was discovered that a major dedication would be required.
Speaker 4: A reduction in the price of a $1.3 million would be required. Again, this item has been available to cities, economists and yes, to the council members.
Speaker 0: Item notation a rain tree great porter in the city.
Speaker 4: Has actually been, you know, waiting patiently while we've been exploring the economic analysis of our third party consultant to make sure that the reduction in is was justified. They are ready to go and we will be breaking ground as soon as entitlements are received. So thank you very much to Raintree and their patients and looking forward to two great projects in the downtown and bring over 400 units to the downtown. So thank you very much.
Speaker 7: Thank you. Any further comment? So none Mr. Wood here.
Speaker 0: Forgive me, but that sounds, in other case, like flies on garbage. It reminds me of what we went through a few years ago when Don I the last Mr. Dean had a property and the city were saying, this is here to auction piece of property that nobody wanted, nobody wanted. And of course, the dean bought it. And within before the ink was dry, before the ink was dry, made $1,000,000 in profit. And if that wasn't bad enough, if that wasn't bad enough, a few weeks later, somebody else said, Oh, that orphaned piece of property has a cousin. And another piece of property that nobody wanted, nobody wanted they sold. And don't quote the exact I think the price was somewhere between 9 to $0.11 an acre. That's almost as bad also as giving away the piece of property which the date is always memorialized in my room around the old hotel on a block from this convention center that nobody wanted and they gave it away for. I think it was a dollar. And that's easy to remember because that was the weekend of when Obama was in Cartagena and even the the ladies down there were holding out for their price. They didn't give up like this city council. One says.
Speaker 7: Sir, sir, you cannot sir, you cannot speak out during the council meeting I Well then you have to leave and go outside. It doesn't matter. You cannot sing or speak during the council meeting. Mr.. Good. To continue.
Speaker 8: To do.
Speaker 0: My apology. You know, it's not it's no wonder it's no wonder the that company came to Long Beach. And got the contract for, what is it, near $10 million to build a parking lot? If he knew right where the garbage was. Right where the garbage was, right here. And then what if we find they had an extensive record of fraud, embezzlement, crime? They felt a long basis for police to come so forth. Thank you.
Speaker 7: There's a motion in a second, Councilmember Pearce.
Speaker 3: Yes, I did want to just take a little the opportunity that I didn't take previously to say when I met with Raintree, I just really was excited about thinking outside of the box and going above and beyond what's required in a project like this. And so looking at the alleyways, talking about doing the mural, the walkability there, connecting the promenade to areas that we typically don't think to connect to, including the arts, and also thinking creatively about our parking challenges that we have. So I just wanted to publicly say I really appreciate the partnership that we've already started. So thank you.
Speaker 7: Thank you. Please cast your vote.
Speaker 6: Motion carries.
Speaker 7: Okay. Thank you. Thanks again. And we're going to go ahead, go back to the regular agenda item 29.
Recommendation to authorize City Manager, or designee, to execute any and all necessary documents with Raintree-Evergreen, LLC, a Delaware limited liability company, for the reduction in sale price of Broadway and The Promenade North (127-135 East Broadway), Assessor Parcel Numbers 7280-020-902, -903, -908, -909, -910, -911, -912, -913, for a total purchase amount of $6,871,122.  (District 2)