HomeMy WebLinkAboutMINUTES - 09151992 - 1.9 (2) TO: BOARD OF SUPERVISORS
FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR
DATE: SEPTEMBER 15, 1992
SUBJECT: STATE HIGHWAY 4/BAILEY ROAD INTERCHANGE PROJECT-WEST PITTSBURG AREA
Project No.: 4660-6X4158 Task: ACQ Account: 3540
SPECIFIC REQUEST(S) OR RECOMMENDATION(S) &BACKGROUND AND JUSTIFICATION
I. Recommended Action:
A. APPROVE Promissory Notes and Deed of Trusts tendered by Maggie T. Cowans and Elena
Garcia.
B. AUTHORIZE Public Works Director to execute said Notes on behalf of the County.
C. AUTHORIZE payments as listed below, as loans from Contra Costa County to Maggie T.
Cowans and Elena Garcia secured by said Deeds of Trust and AUTHORIZE the Auditor-
Controller to issue checks in said amounts:
.....
.....
............................... ..................... _............................ ......__............... .........._.........._ .._................................................._..................... .....__...
.............................. ....... .. .... _....... ......... ............_.............. .................__.......................__.........._.... _.....
Trustor Documertt bats Payee Amount
Maggie T. Cowans Deed of Trust Fidelity National Title Ins. Co. $8,472
Promissory Note 1700 °A° Street
Antioch, CA 94509
Escrow #154572
Elena Garcia Deed of Trust Founders Title Ins. Co. $8,500
Promissory Note 659 Main Street
Martinez, CA 94553
Escrow #146595
to be forwarded to the Real Property Division for delivery.
Continued on Attachment: ✓ SIGNATURE:
_ RECOMMENDATION OF COUNTY ADMINISTRATOR .,
_ RECOMMENDATION OF BOARD COMMITTEE
APPROVE. OTHER
SIGNATURE(S):
ACTION OF BOARD ON /S,/99QAPPROVED AS RECOMMENDED _ OTHER
VOTE OF SUPERVISORS �--
> UNANIMOUS (ABSENT )
AYES: NOES:
ABSENT: ABSTAIN:
KAM:gIo I hereby certify that this Is a true and Correct copy of
an action taken and entered on the minutes of th3
c:BO15.t9 Board of Surs on t e date a own.
pery
Orig. Div: Public Works (R/P) ATTESTED: / 5,-
Contact: Karen McNamer (313-2225) PHIL BAT ELOR.Clerk of the Board
cc: County Administrator of Supervisors and County Administrator
Auditor-Controller (via R/P) I
P. W. Accounting $y - .----- Deputy
Recorder (via R/P)
State Highway 4/Bailey Road Interchange Project
September 15, 1992
Page Two
D. DIRECT Fidelity National Title Insurance Company and Founders Title Insurance Company,
the Trustee's to have the above-referenced Deeds of Trust recorded in the office of the County
Recorder.
E. AUTHORIZE the County Treasurer to keep said Notes and Deeds of Trust in its custody until
paid in full.
II. Financial Impact:
Loan payments totalling $16,972 from State Highway 4/Bailey Road Interchange funds which are
100% reimbursable from the Contra Costa Transportation Authority. The loan obligations will
be paid in full to the County in accordance with the terms and conditions of said Promissory
Notes.
III. Reasons for Recommendations and Background:
The County purchased the properties located at 41 Mims and 461 So. Broadway, W. Pittsburg
for the State Highway 4/13ailey Road Interchange project. As a result the owner-occupants,
Maggie T. Cowans and Elena Garcia will be relocated to a replacement dwelling. Ms. Cowans
and Ms. Garcia received no interest/no payment Housing Rehabilitation loans through the Contra
Costa County Neighborhood Preservation Program. Promissory Notes and Deeds of Trust were
executed, due and payable November 6, 1989 and March 11, 1989 respectively. Extensions
were granted until November 6, 1994 and March 11, 1995. The property owners do not have
the financial means to obtain conventional loans to payoff their debt obligation and still afford
replacement dwellings to which they are entitled. Government Code Sections 7263(b)(i), 7263(d)
and Section 7264.5 authorize an agency to loan to a qualified displacee sufficient funds that will
enable them to purchase a comparable replacement housing unit. The County will loan Ms.
Cowans and Ms. Garcia, the sums of $8,472 and $8,500 under terms and conditions similar to
their previous loans, so that the replacement properties can be purchased.
IV. Consequences of Negative Action:
The County would be unable to relocate the property owners in accordance with state and
federal law.