Suisun City Council Agenda Packet 2026-05-26
Successor Agency Plans Sale of Main Street Parcels
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Description
The Suisun City Successor Agency is considering a Purchase and Sale Agreement with CF Suisun 1 LLC to sell four deteriorated Main Street parcels for a net $115,000 after a demolition credit. Escrow is expected to close by December 2026 pending Oversight Board and state Department of Finance approvals.
Contract Details
Contract Amount
$115,000
Vendor
CF SUISUN 1 LLC
Agency
City of Suisun, CA
Contract Type
OTHER
Document Date
May 26, 2026
Contract Term
Close of escrow anticipated by December 2026, following Oversight Board and California Department of Finance approvals
Renewal Date
2029-12-31
Renewal Info
Agreement includes a requirement for the buyer to enter into a Development Agreement within 24 months of close; the City retains a one-year repurchase option thereafter with reimbursement of demolition costs above the credited amount and 3% simple interest.
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