HomeMy WebLinkAboutMINUTES - 08111992 - 1.102 r
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TO: REDEVELOPMENT AGENCY Contra
sem;
FROM: Phil Batchelors Costa
Executive Director
�a.TA ri•••J' County
DATE: August 11, 1992
SUBJECT: Purchase Agreements - Area 4, Pleasant Hill BART Station Area
(Jensen & Cornelius)
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
APPROVE form of Purchase Agreement with Robert Allen Jensen for 3123
Wayside Lane, and Earl & Marjorie Cornelius for 3143 Wayside Lane,
Walnut Creek and AUTHORIZE the Redevelopment Director or his Designee
to execute said Agreement, and to take such other actions as are
necessary to conclude the purchase, on behalf of the Agency.
FISCAL IMPACT
No General Funds are involved. The Agency will use its Low and
Moderate Income Housing Funds and other Affordable Housing Funds
loaned to the Agency. Sufficient funds are available to cover
acquisition costs.
BACKGROUND/REASONS FOR RECOMMENDATIONS
The subject property is part of development Area 4 in the , Pleasant
Hill BART Station Area. This development area was originally to be
developed by a partnership of Glenfed Development Corp. and Desco
Investment. That partnership was unable to perform and will not be
pursuing development on this site.
CONTINUED ON ATTACHMENT: YES SIGNATURE: "
1
RECOMMENDATION OF EXECUTIVE DIRECTOR RECO DATION F AGENCY 7rITTEE
APPROVE OTHER
SIGNATURE(S) :
ACTION OF AGENCY ON Au gust 11 , 1992 APPROVED AS RECOMMENDED �- OTHER
VOTE OF COMMISSIONERS --
I HEREBY CERTIFY THAT THIS IS A
X UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES - OF-THE REDEVELOPMENT
AGENCY ON THE DATE SHOWN.
cc: Community Development
Redevelopment Agency ATTESTED August 11 , 1992
'Public Works-Real Property PHIL BATCHELOR,
Auditor-Controller AGENCY SECRETARY
(via Real Property)
SRA5/jb/jensen.bos
BY � , DEPUTY
The purchase price of the Jensen and Cornelius properties ($752, 365
and $920, 634) are consistent with the purchase prices of other
privately owned properties in Area 4 recently purchased by the
Agency. The Cornelius Purchase Agreement also includes an
additional settlement amount for lost rents.