To: Board of Supervisors
From: Warren Lai, Public Works Director/Chief Engineer
Report Title: Purchase of Real Property located at 2555 El Portal Drive, San Pablo
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
DECLARE that a notice of intention to purchase the Real Property located at 2555 El Portal Drive, San Pablo, California, having Assessor's Parcel Number 416-140-047-0 (Property), was duly published in the Contra Costa Times, as required by Government Code section 25350 and in compliance with Government Code section 6063.
DECLARE that this Board hereby consummates the purchase of the Property according to the terms and conditions of the Purchase and Sale Agreement between the County and Seller dated February 1, 2022.
ACCEPT the grant deed from Clarence Perry, LLC (Seller), for the purchase of the Property.
APPROVE the purchase price of $21,320,000 (Purchase Price) and AUTHORIZE the Auditor-Controller to wire approximately $5,345,400, payable to WFG National Title Insurance Company (Title Company), 4160 Dublin Blvd., Suite 410, Dublin, CA 94568, ABA No.: 121000248, Account No.: 4943546242, Escrow Number 24-108434, Attn: Evelyn Bowens, Escrow Officer, (925) 847-9570, which amount is equal to the Purchase Price and estimated closing costs, less $16,000,000 of Homekey grant funds being deposited into escrow by the State.
DIRECT the Real Property Division to have the declaration of restrictive covenants required by the California Department of Housing and Community Development (HCD), restricting the use of the Property to providing permanent supportive housing for persons experiencing, or at risk of experiencing, homelessness, delivered to the Title Company for recording in the Office of the County Recorder.
FISCAL IMPACT:
The purchase of the Property will be funded through (i) a grant of $16,000,000 from the State's Homekey Program, (ii) a grant of $2,048,505 from the State's Whole Person Care program, and (ii...
Click here for full text