HomeMy WebLinkAboutMINUTES - 10141986 - 1.34 J41
1-034
TO: BOARD OF SUPERVISORS
FROM: Harvey E. Bragdon
Director, Community Development
DATE: September 4, 1986
SUBJECT: Conveyance Option Agreement - Chilpancingo Property, Pleasant Hill
(AP #153-030-105)
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SPECIFIC REQUEST(S) OR RECOMMENDATION(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATION:
Approve option agreement with Diablo Valley Housing Corporation covering the sale of
excess County lands at the Chilpancingo Parkway site in Pleasant Hill , authorize the
Board Chair to execute said option agreement on behalf of the County, and direct the
Community Development Department to deliver a copy of said executed document to
Diablo Valley Housing Corporation.
BACKGROUND:
The County holds title to the above referenced property. The property was purchased
with Community Development Block Grant Funds. The property was originally part of a
5 acre piece, and was purchased by Chilpancingovista, Inc. (CVI) , a non-profit
corporation formed to develop and own subsidized housing for the handicapped.
Subsequent to purchase by CVI the property was subdivided into the two pieces by CVI ;
CVI developed what is now AP #153-030-104. Title to the subject property was vested
with the County, and an Agreement for Property Acquisition between the County and CVI
was entered into, effective February 23, 1982. The term of the Agreement terminated
July 1, 1984, per an August 16, 1983 extension.
Under terms of the Agreement for Property Acquisition the County was to hold title to
the property with the intent of reconveyance back to CVI when the organization had a
commitment of funds for construction of a Phase II . CVI was unable to secure a
commitment of funds, therefore they . have indicated that the County should pursue
other development opportunities.
Diablo Valley Housing Corporation, a non-profit housing development corporation has
been enlisted to develop a project proposal and secure necessary approvals and
financing for an affordable housing development on the subject property.
The enclosed Conveyance Option Agreement has been prepared by the County's Real
Property Division and reviewed by County Counsel relative to compliance with State
Law real property disposition procedures.
FINANCIAL IMPACT:
The property will ultimately be made available at a price that reflects an amount -
necessary to make an affordable housing project feasible. Said price could be its
market value or some lesser amount. A reduction in land costs for an affordable
housing development is appropriate and allowed purs ant to federal regulations
governing the Community Development Block Grant progra a ate 1 w. No general
fund monies are involved.
CONTINUED ON ATTACHMENT: YES SIGNATURE:
r"". r
_RECOMMENDATION OF COUNTY ADMINISTRATOR ,_ CqNDAT F AR COMMflqk
APPROVE OTHER
SIGNATURE(S):
ACTION OF BOARD ON looAPPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A TRUE
X UNANIMOUS (ABSENTAND CORRECT COPY OF AN ACTION TAKEN
AYES: NOES: AND ENTERED ON THE MINUTES OF THE BOARD
ABSENT: ABSTAIN: OF SUPERVISORS ON THE DATE SHOWN.
orig: Community Development OCT 14 1986
cc: Public Works/Real Property ATTESTED
County Counsel PHIL BATCHELOR, CLERK OF THE
BOARD OF SUPERVISORS AND COUNTY
ADMINISTRATOR
BY �` �� ,DEPUTY