HomeMy WebLinkAboutMINUTES - 06102003 - C.78 TO: BOARD OF SUPERVISORS •. CONTRA
FROM: BARTON J. GILBERT, DIRECTOR OF GENERAL SERVICES COSTA
DATE: JUNE 10, 2003 COUNTY
SUBJECT: EXERCISE OF PURCHASE OPTION FOR THE PREMISES AT 79
1220 MORELLO AVENUE, MARTINEZ, FOR.THE GENERAL
SERVICES DEPARTMENT (T00029)
SPECIFIC REQUEST(S)OR RECOMMENDATION(S)&BACKGROUND AND JUSTIFICATION
RECOMMENDATION
AUTHORIZE the Director of General Services, or designee, to EXERCISE on behalf of the County,
the option to purchase the property at 1220 Morello Avenue, Martinez, from AB Development
Company for continued occupancy by the General Services Department.
FINANCIAL IMPACT
Funding for the purchase will be provided by Restricted Capital Projects bond financing. The option
price is $2.55 million. The sale of the bonds is to occur in July, 2003.
BACKGROUND
In 9992, the Board of Supervisors approved a lease with a purchase option for property located at
1220 Dorello Avenue in Martinez. The purchase option must be exercised between August 1, 1999
and July 31, 2005.
This facility provides approximately 15,000 square feet for the General Services Department
Administration, Capital Projects Management, Lease Management, and Purchasing Divisions.
If the property was purchased, the annual debt service would be approximately the same as current
annual lease costs, which are approximately $200,000. By purchasing this property, future savings
will occur through stable debt service costs as opposed to escalating lease payments.
The purchase of this property is consistent with the Board of Supervisors' policy for the County to
have an equity interest in those facilities for which the County has a long-term use.
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CONTINUED ON ATTACHMENT: YES S#GNA
_4,::)�£COMMENDATiON OF COUNTY ADMINISTRATOR RECOMMENDATION OF BOO COMMITTEE
APPROVEOTHER
_--�--. .,� ,rte
SIGNATURE(S):
ACTION OF BQARo ON JIMQ.2= APPROVED AS RECOMMENDED X OTHER
VOTE OF SUPERVISORS
UNANIMOUS(ABSENT
AYES: NOES:
ABSENTS: ..-_- _ ABSTAIN:
DISTRICT III SEAT VAt"M
MEDIA CONTACT:BARTON J.GILBERT(313-7100)
OHginating Dept.:General Services Department I HEREBY CERTIFY THAT THIS IS A TRUE
cc: General Services Department AND CORRECT COPY OF AN ACTION TAKEN
Lease Management Division AND ENTERED ON THE MINUTES OF THE BOARD
Accounting OF SUPERVISORS ON THE DATE SHOWN.
Auditor-Controller(via LIM)
Risk Management(via UM) ATTESTED_,ICNE._10, 2�3
General Services(via UM) JOHN SWEETEN,CLERK OF THE BOARD OF SUPERVISORS
AB Development(via L/M) r AND COUNTY ADMINISTRATOR
BY DEPUTY
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