To: Board of Supervisors
From: Monica Nino, County Administrator
Report Title: Escrow Deposit for Potential Purchase of Land in Brentwood
☒Recommendation of the County Administrator ☐ Recommendation of Board Committee
RECOMMENDATIONS:
APPROVE the payment of $50,000 as an escrow deposit for the potential purchase of 2305 and 2313 Windy Springs Lane in Brentwood, CA.
FISCAL IMPACT:
Five million dollars in Measure X funding for the acquisition and construction of a youth center in District 3 was previously approved by the Board of Supervisors. The escrow deposit will come from those funds.
BACKGROUND:
Measure X funds were allocated by the Board of Supervisors to help purchase, lease and/or construct youth centers in Districts 3, 4 and 5. The County is investigating purchasing land at 2305 and 2313 Windy Springs Lane in Brentwood for the potential siting of a youth center for District 3. In order to continue the process of investigating the potential purchase of the land the County needs to open escrow with the potential seller and needs to provide a deposit of $50,000 to open escrow. If final purchase price and terms are agreed between the County and the seller, staff will return to the Board of Supervisors for authorization to make the purchase.
CONSEQUENCE OF NEGATIVE ACTION:
If we do not open escrow we will not be able to proceed with potentially purchasing the properties.