Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Raymond Hodges, Director, Department of Housing
Subject: Purchase and Sale Agreement for the Acquisition of the Comfort Inn & Suites Hotel in Redwood City
RECOMMENDATION:
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Adopt a resolution:
A) Declaring the Board of Supervisors' intention to purchase the Comfort Inn & Suites Hotel, located at 1818 El Camino Real, Redwood City, (Assessor Parcel Number 053-122-160) for a total purchase price of $17,000,000, subject to approval of funding and authorization for the County Manager to execute the certificate of acceptance; and
B) Authorizing the President of the Board of Supervisors to execute a Real Estate Purchase and Sale Agreement and Escrow Instructions ("Agreement") for the County's potential acquisition of the Property for a total purchase price of $17,000,000; and
C) Authorizing the County Manager, or designee, to execute the Certificate of Acceptance and all notices, escrow instructions, and documents required to facilitate the purposes of the Agreement.
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BACKGROUND:
In response to the COVID-19 pandemic, the County coordinated with numerous hotels in the County to provide shelter for first responders, as well as for members of our most vulnerable populations, including the homeless. Staff has also been coordinating with the State of California Homekey Program ("Homekey") to purchase hotels for conversion to affordable housing units.
DISCUSSION:
The Comfort Inn & Suites Hotel, located at 1818 El Camino Real, in Redwood City, (the "Property") is a fifty-one-room hotel, built in 1991. The mix of rooms includes fifty-one units, one breakfast room, one manager's quarters, elevator, and laundry room. Each room includes one king bed, one queen bed or two queen beds, microwave and refrigerator, television and other room amenities. The Property consists of .98 acre, or 42,877 square feet. The hotel has two ADA compliant roo...
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