Special Notice / Hearing: 3-week notice
Vote Required: Majority
To: Honorable Board of Supervisors
From: Michael P. Callagy, County Executive
Subject: Purchase and Sale Agreement for the Acquisition of 1065 E. Hillsdale Boulevard, in Foster City
RECOMMENDATION:
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Adopt a resolution:
A) Declaring the Board of Supervisors' intent to purchase the real property described as 1065 E. Hillsdale Boulevard, in Foster City, identified as San Mateo County Assessor's Parcel Number 094-524-180 ("Property"), for a total purchase price of $29,000,000; and
B) Authorizing the President of the Board of Supervisors to execute a Real Estate Purchase and Sale Agreement and Escrow Instructions ("Agreement"), with the owner of the Property, DWF IV CENTURY PLAZA, LLC, a Delaware limited liability company ("Seller"), for the County's acquisition of the Property; and
C) Authorizing the County Executive or their designee to execute the Certificate of Acceptance upon satisfaction of certain conditions in escrow, to be recorded with the grant deed transferring title to the Property to the County, as well as an Assignment of Leases and any and all notices, escrow instructions, and documents required to facilitate the purposes of the Agreement.
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BACKGROUND:
Since 1998, the Human Services Agency ("HSA") has leased 550 Quarry Road in San Carlos for the use of various programs. The agency currently occupies 70,104 square feet of the leased site to operate vocational rehabilitation services, which serves county residents with disabilities and other barriers to employment, creating pathways towards self-sufficiency through vocational counseling and assessment, case management, job training and job placement. HSA wishes to relocate these programs to a new facility to be acquired by the County.
The Property is a parcel of land comprised of approximately 223,320 square feet of space, improved by a four-story building consisting of approximately 115,600 square feet...
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