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 849 Mitten Road, 863 Mitten Road, 866 Malcolm Road & Adjacent Parking Lot Parcels, City of Burlingame
RECOMMENDATION:
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Adopt a resolution:
A) Declaring the Board of Supervisors' intent to purchase the real property described as 849 Mitten Road, 863 Mitten Road and 866 Malcolm Road, all located within the City of Burlingame, San Mateo County Assessor's Parcel Numbers 024-403-380, 024-403-410 and 024-403-400, respectively, together with adjacent parking lots, Assessor's Parcel Numbers, 026-301-310, 026-301-320 and 026-301-240, ("Property"), for the total purchase price of $24,500,000; 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, ARE-819/863 Mitten Road, LLC ("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 is located within the City of Burlingame and comprises six parcels which include three buildings used for office and research and development, together with three parking lot parcels. The gross interior area of the buildings total 102,823 square feet and the combined area of the Property totals approximately six and three-quarter acres of land.
DISCUSSION:
The County has determined the Property would provide needed administrative, executive, and professional offices for County programs.
The Sellers have executed a Pur...
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