HomeMy WebLinkAboutMINUTES - 01231990 - 1.49 1-049 �
TO: BOARD OF SUPERVISORS Contra
sem'.
FROM: Phil Batchelor, County Administrator s
Costa
County
DATE: January 23, 1990 srd cGiN�
SUBJECT: REVENUE LEASE - CONSENT TO ASSIGNMENT OF LEASE AS SECURITY FOR
LOAN, SOLANO WAY PARTNERSHIP (MAGNUSSEN/BARBEE) , 4901-4903 , 4905
MARSH DRIVE, CONCORD, CA (BUCHANAN FIELD - WAP814)
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
I. RECONIlMENDATION
AUTHORIZE the Director of General Services to EXECUTE, on
behalf of the County, a Consent to Assignment of Lease as
Security .for Loan. The Lease being assigned is that certain
Revenue Ground Lease dated August 20 , 1985, between Contra
Costa County, as Lessor, and Solano Way Partnership, as
Lessee. The Lease is for approximately six ( 6) acres of land
on Buchanan Field Airport.
II. FINANCIAL IMPACT
This Assignment of Lease will have no impact on the rental
income paid to the Airport Enterprise Fund (Public Works
Department) under the terms and conditions of said Lease.
III. REASONS FOR RECOMMENDATION/BACKGROUND
This Assignment provides for the refinancing (Leasehold Deed
of Trust and Security Agreement with Assignment of Rents) of
Lessee ' s buildings on the subject leased property. The land
and buildings house the Magnus sen-Barbee Suzuki and Magnussen
Dodge automobile dealerships. The Leasehold Deed of Trust and
the Assignment of Lease are permitted under the Lease
document.
CONTINUED ON ATTACHMENT: YES SIGNATURE: 002P
RECOMMENDATION OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMI E
APPROVE OTHER
SIGNATURE($):
ACTION OF BOARD ON JAN 2 3 mon APPROVED AS RECOMMENDED OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A TRUE
_2L UNANIMOUS(ABSENT ) AND CORRECT COPY OF AN ACTION TAKEN
AYES: NOES: AND ENTERED ON THE MINUTES OF THE BOARD
ABSENT: ABSTAIN: OF SUPERVISORS ON THE DATE SHOWN.
CC: County Administrator ATTESTED JAN 2 3 1990
County Auditor-Control ler(via L/M) PHIL BATCHELOR,CLERK OF THE BOARD OF
Lessor(via L/M) SUPERVISORS AND COUNTY ADMINISTRATOR
Public Works Department(via L/M)
ehva���
M382 (10/88) BY ,DEPUTY
Orig: General Services Dept. -L/M BordO110.D90
Buildings and Grounds (via L/M) JB:bg