Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Raymond Hodges, Director, Department of Housing
Subject: Expenditure of Measure K funds for the Purchase of Real Property in the City of San Carlos from the Mid-Peninsula Water District
RECOMMENDATION:
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Measure K: Adopt a resolution authorizing the expenditure of a total amount not to exceed $770,000 in Measure K funds previously allocated to the Department of Housing, or other funds as determined by the County Manager, for the purchase of certain real property, known as the F Street Project, located at the southeast corner of F Street and El Camino Real in the City of San Carlos (Assessor Parcel Number 045-320-100) from the Mid-Peninsula Water District and associated closing costs.
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BACKGROUND:
The Mid-Peninsula Water District (the "District") owns certain property located on the southeast corner of F Street and El Camino Real in the City of San Carlos, identified as Assessor Parcel Number 045-320-100 (the "Property"). The Property is located on a vacant lot that is 0.15 acres and is located in a mixed commercial and residential area in San Carlos. By Resolution No. 2018-14 adopted on May 24, 2018, the District declared the Property to be "surplus property" within the meaning of California Government Code Section 54220 ("Surplus Lands Act").
On February 25, 2020, the County of San Mateo submitted a Letter of Intent ("LOI") expressing interest in acquiring the Property. The LOI included the purchase price of the appraised value and stated that the County will close sixty days after the Board's approval. The District then prepared a Real Estate Purchase and Sale Agreement and Escrow Instructions ("Agreement"). The District has followed all procedures required pursuant to the Surplus Lands Act and considered all offers made for the acquisition of the Property.
On May 4, 2021, the Board of Supervisors of the County of San Mat...
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