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HomeMy WebLinkAboutMINUTES - 03241987 - 1.14 CONTRA COSTA COUNTY BOARD OF TO: Board of Supervisors FROM: Phil. Batchelor, County Admini - for DATE: March 24, 1987 SUBJECT': Acquisition of Inprovements Consisting of County Court House Facilities on Court Street, Martinez (0122-2310 W05382) (County Court House; Former Hall of Records) SPECIFIC REQUES (S) OR CN(S) & BAC 2UM AND JUSTIFICATION 1. Recommended Actian: It is recommended that the Board exercise its Option to purchase property located at Court Street, Martinez (County Court House) ; accept Quitclaim Deed dated March 10, 1987 from the Contra Costa County Employees Retirement Association; authorize Public Works Department, Accounting Division, to make a Journal Entry for $126,000.00 to effect payment agreed upon; and direct the Public Works Department, Real Property Division, to have said Quitclaim Deed recorded in the Office of the County Recorder. 2. Backgronmd: Effective March 1, 1967, 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 County Court House on Court Street, Martinez. The original agreement reflected actual remodeling expenses and calculations of the total expenses to be amortized in the lease payments. As per the Agreement, the County has the option to purchase said property for $126,000.00. Funds to exercise the purchase option have been included in the approved 1986- 1987 Plant Acquisition Budget. 3. Consequences of Negative Action: Rental payments will continue and the amount owed on the facility will increase by 5% per year. Continued on Attachment: yes Signat Recommendation of County Administrator RecomTendatiofi of Board Committee Approve Other Signature(s) Action of Board on _ MAR -2 d1987. Approved as recorfinended _ Other r Vote of Supervisors v Unanimous (Absent ) I B11MY CER'ITFY THAT THIS IS A TRUE Ayes: Noes: AND OCFU; C.T QUPY OF AN ACTIN TAIM4 Absent: Abstain: AND ENTERED ON r= NIINUTES OF r1M BOARD OF SUPERVISORS ON 9MEE DATE SHOWrT. ATTEs= MAR 2 4 1987 PHIL BATCHUM, Clerk of the Board Of Stmpem v' rs and County Administrator str for BY DEPUTY Orig. Div: Public Works (R/P) cc: County Administrator Auditor-Controller P. W. Accounting Retirement Board GK:dk BO:ACH24.t3