Title
Chief Administrative Office recommending the Board consider the following:
1) Exercise the Option Agreement for Exchange of Real Property of approximately 5.20 acres each for APNs 325-300-02 and 325-300-32 between the County and John V. Briggs on behalf of the Briggs Family Trust, to be effective December 18, 2014. This action is associated with the proposed future location of the New Placerville Courthouse (4/5 vote required);
2) Authorize staff to open a sixty (60) day escrow, commencing on December 19, 2014 per the terms of the Option Agreement;
3) Direct and authorize staff to determine that the contingencies are satisfied and to authorize the close of escrow. Staff is further authorized to extend on behalf of the County any deadlines or other time requirements of the Option Agreement; and
4) Authorize staff to prepare and the Chair to execute, upon satisfaction of the various contingencies in the Option Agreement, an appropriate grant deed to convey the County Property, a Certificate of Acceptance for the Option Property, and all other easements and documents as needed to facilitate the needs of the Optionor, the County, and the Judicial Council (Formerly Administrative Office of the Courts) and to consummate the transaction. (4/5 vote required)
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BUDGET SUMMARY:
Total Estimated Cost…………… $10,000
Budgeted…………………………
New Funding…………………….
Savings…………………………
Accumulated Capital Outlay (ACO) $10,000
Total Funding Available………… $10,000
Change To Net County Cost…… -0-
Fiscal Impact/Change to Net County Cost:
Execution of this agreement will require the County to expend funds for its portion of escrow costs associated with title reports, document recording, and other related escrow transactions. The exact cost will be determined through the escrow. The cost noted is an ESTIMATE only. There will be no additional funding to the Optionor associated with this transaction. Funding will come from the Accumulated Capital Outlay fund f...
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