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1-149
TO: REDEVELOPMENT AGENCY ^, ,}
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FROM: PHIL BATCHELOR, Costa
EXECUTIVE DIRECTOR �l
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DATE: May 30 , 1989
SUBJECT: Indemnity Agreement with First American Title
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
Authorize the Executive Director or his designee to execute an
Indemnity Agreement with First American Title pursuant to property
acquisition in the Pleasant Hill BART Station Area (Area 3 Park
Regency Project) .
FISCAL IMPACT
None.
BACKGROUND/REASONS FOR RECOMMENDATIONS
First American Title Company will be issuing title insurance on all
properties the Redevelop Agency will be acquiring for the Park
Regency development. . Title insurance will be issued as if the
Agency has fee title. Certain condemnation parcels will not be
held in fee title at the time of issuance of the title insurance,
therefore the title company requires indemnification.
CONTINUED ON ATTACHMENT: YES SIGNATURE:
_ RECOMMENDATION OF EXECUTIVE DIRECTOR _RECOMMENDATION OF 'AGEN ' COMMI E
APPROVE _ OTHER
SIGNATURE(S) :
ACTION OF AGENCY ON June 6, 1989 APPROVED AS RECOMMENDED X 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: Redevelopment Director ATTESTED June 6, 1989
Community Development PHIL BATCHELOR,
County Administrator AGENCY SECRETARY
County Counsel
Goldfarb & Lipman
First American Title BY—4ao--
DEPUTY _
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ra36/indnyagr.bo
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