Special Notice / Hearing: Publication (3 Weeks)
Vote Required: Majority
To: Honorable Board of Supervisors
From: Michael P. Callagy, County Executive
Subject: Purchase and Sale Agreement for County Acquisition of 1717, 1725 and 1731 S. El Camino Real, City of San Mateo
RECOMMENDATION:
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Adopt a resolution:
A) Declaring the Board of Supervisors' intent to purchase the real property described as 1717, 1725 and 1731 S. El Camino Real, located within the City of San Mateo, San Mateo County Assessor's Parcel Numbers 035-219-150, 035-219-140 and 035-219-170, respectively, ("Property"), for the total purchase price of $7,000,000; and
B) Authorizing the President of the Board of Supervisors to execute a Real Estate Purchase and Sale Agreement ("Agreement") with the owners of the Property, 1707 S. El Camino Real, LLC, a Delaware limited liability company, ("Sellers"), for the County's acquisition of the Property; and
C) Authorizing the County Executive, or their designee, to execute a 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 any and all notices, escrow instructions, and documents required to facilitate the purposes of the Agreement.
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BACKGROUND:
The Property, a mixed-use retail property, comprises three parcels totaling approximately one-half acre, together with two retail buildings and a parking lot. The buildings, the first constructed in 1949 and 1958 and the second in 1964, consist of a total gross interior area of 18,068 square feet. The property is located on South El Camino Real northeast of Highway 92 within the City of San Mateo.
DISCUSSION:
The County has determined the Property would be a valuable site to provide needed public-facing services for administering essential County programs, including San Mateo County Health's Women Infant & Children (WIC) Program that provides nutrition e...
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