Title
Chief Administrative Office recommending the Board authorize the Chairman to sign retroactive Agreement 751-O0911 setting the assessment for the El Dorado Professional Building Association in the amount of $200 per month per unit for each Professional Condominium Unit located at 941 Spring Street for the term commencing June 1, 2008 and continuing unless terminated by the Association.
FUNDING: Realignment funds.
Body
BUDGET SUMMARY:
Total Estimated Cost Per Year $4,800.00
FY 2008/09
Funding
Budgeted $4,800.00
New Funding $
Savings $
Other $
Total Funding Available $4,800.00
Change To Net County Cost $0.00
Fiscal Impact/Change to Net County Cost: None. Funding is included in the Health Services Department FY2008-09 budget.
Background: The County of El Dorado Department Health Services Department owns two of the eight units which comprise the El Dorado Professional Building Condominium Association. The units were originally purchased with funding from the Health Services Department because of their location across from the main Public Health Division facility at 931 Spring Street, Placerville.
Association members currently pay $200 per unit per month in association dues. The Association's broker (Action Properties) deposits dues into the Association’s trust account. The Association dues are used to satisfy maintenance and other obligations incurred by the broker including inspecting the premises, facilitating utility services, maintenance & improvements, and landscaping services.
Reason for Recommendation: The existing property management agreement does not define the amount of dues to be paid by the Association. The recommended agreement would provide this clarification.
Action to be taken following Board approval:
1. Board Clerk will forward to General Services a fully executed original copy of Property Management Agreement 751-O0911 for distribution.
2. S...
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