COUNTY OF SAN MATEO

Inter-Departmental Correspondence

County Manager’s Office

DATE:

October 23, 2006

BOARD MEETING DATE:

November 7, 2006

SPECIAL NOTICE/HEARING:

None

VOTE REQUIRED:

Majority

TO:

Honorable Board of Supervisors

FROM:

Steve Alms, Manager, Real Property Division

SUBJECT:

Resolution Authorizing Notice of Intention to Purchase Real Property and Setting Public Hearing

RECOMMENDATION

Adopt a resolution:

1)

Authorizing the Notice of Intention to Purchase Real Property, and

2)

Setting a public hearing for December 5, 2006 at 9:15 a.m. for consideration of final actions related to the purchase of real property and improvements located at 525 Marshall, Redwood City, California.

VISION ALIGNMENT

Commitment: Responsive, effective and collaborative government.
Goal 20: Government decisions are based on careful consideration of future impact rather than temporary relief of immediate gain. The purchase of the subject property contributes to this goal by providing for current office space needs and future construction within the County Center area that will benefit both the County of San Mateo and the public.

BACKGROUND

The property at 525 Marshall Street in Redwood City consists of approximately 2,780 square feet of land on APN: 052-344-110 (the “Property”). The Property is improved with a single-story office building measuring approximately 2,580 square feet. The Property is zoned CB, Central Business District, under the jurisdiction of the City of Redwood City.

By Resolution No. 68144 dated July 18, 2006, this Board authorized and directed the execution of a Lease with Option to Purchase Agreement (“Agreement”) for the Property. The Agreement was executed on July 18, 2006. The option to purchase was included to allow for the future development of a new County office building. The purchase price set forth in the Agreement is $1,000,000 and all rent paid by the County during the lease term will be credited to the purchase price. The price and terms are supported by an internal appraisal.

DISCUSSION

A notice of intention of the Board of Supervisors is required prior to the Board action to approve the purchase of property.

Upon adoption of the notice of intent, the Clerk of the Board will publish the notice of the public hearing to be held on December 5, 2006 to consider whether this Board desires to complete the purchase.

FISCAL IMPACT

There is no fiscal impact from this resolution as it merely authorizes the Notice of Intention and sets the public hearing date.