HomeMy WebLinkAboutMINUTES - 10161984 - 1.45 TO: BOARD OF SUPERVISORS
FROM: Phil Batchelor, County Administrator Contra
DATE: October 2, 1984 County
SUBJECT: Acquisition of Property Located at 834 Court Street, Martinez
(Assessor' s Office Building and Adjacent Parking Lot)
SPECIFIC REQUEST(S) OR RECOMMENDATION(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATION
It is recommended that the Board exercise its Option to Purchase property
located at 834 Court Street, Martinez (Assessor' s Office Building and
adjacent parking lot) ; accept Grant Deed dated October 9, 1984 from the
Contra Costa County Employees Retirement Association; authorize Public
Works Department, Accounting Division, to make a Journal Entry for
$66 ,715. 27 to effect payment agreed upon; and direct the Public Works
Department, Real Property Division, to have said deed recorded in the
Office of the County Recorder.
BACKGROUND
Effective June 26, 1972 , the County of Contra Costa entered into a Lease-
Option Agreement with the Board of Retirement of Contra Costa County
Employees Retirement Association for the remodeling and lease/purchase
of the building at 834 Court Street, together with the Green Street
parking lot for occupancy by the County Assessor.
The original agreement wamended January 4 , 1974 , to reflect actual
remodeling expenses and r%
calculations of the total expenses to be
amortized in the lease payments. As per the amendment, after ten years
from January 4 , 1974 the County has the option to purchase said property
for $63 ,000 plus interest at a rate of 7-1/2% per annum from January 4 ,
1984 to date of payment.
Funds to exercise the purchase option have been included in the approved
1984-1985 Plant Acquisition Budget (Unit 0111) .
CONTINUED ON ATTACHMENT: YES SIGNATURE:
X RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
x APPROVE OTHER
WSIGNATURE(S) ,
ACTION OF BOARD ON APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
UNANIMOUS (ABSENT ) I HEREBY CERTIFY THAT THIS IS A TRUE
AYES: NOES: AND CORRECT COPY OF AN ACTION TAKEN
ABSENT: ABSTAIN: AND ENTERED ON THE MINUTES OF THE BOARD
OF SUPERVISORS ON THEn• DATE SHOWN.
CC: County Administrator ATTESTED
Auditor-Controller J.R. OLSSON, COUNTY CLERK
Public Works Director AND EX OFFICIO CLERK OF THE BOARD
Retirement Board
00135
M382/7-83 BY 4 �l DEPUTY