Suisun City Council Agenda Packet 2026-05-26
City Plans $1M Sale of Downtown Parking Parcels
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Description
Suisun City plans to sell two downtown surface parking lot parcels to CF Suisun 2 LLC for $1,005,000, with escrow expected to close in August 2026. The agreement includes future Development Agreement requirements, a City repurchase option, and a lease to maintain public parking in the interim.
Contract Details
Contract Amount
$1,005,000
Vendor
CF SUISUN 2 LLC
Agency
City of Suisun, CA
Contract Type
OTHER
Document Date
May 26, 2026
Contract Term
Close of escrow anticipated August 2026
Renewal Date
2028-08-31
Renewal Info
Buyer must pursue a Development Agreement within 24 months of close; the City may repurchase the parcels for the purchase price plus 3% simple interest during a one-year option window thereafter. A parking lease continues until the repurchase option period ends or development proceeds.
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