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COUNTY OF SAN MATEO
Inter-Departmental Correspondence
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Board of Supervisors
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DATE:
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August 27, 2007
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BOARD MEETING DATE:
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September 11, 2007
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SPECIAL NOTICE/HEARING:
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3 week Publication
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VOTE REQUIRED:
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Majority
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TO:
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Honorable Board of Supervisors
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FROM:
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Steve Alms, Manager, Real Property Division
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SUBJECT:
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Resolution Authorizing the Purchase of Real Property from Michael and Alice Kuang and King Mun and Sao Lin Tom (C.O.P. 2690)
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RECOMMENDATION
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1) Adopt a Resolution:
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a.
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Authorizing and directing the President of the Board of Supervisors to execute on behalf of the County, the Agreement with Michael and Alice Kuang and King Mun and Sao Lin Tom to purchase the real property at 701 Grand Avenue and 215-217 Orange Avenue in South San Francisco for $1,297,000, and
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b.
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Authorizing the County Manager or his designee to sign escrow instructions and execute any and all notices, consents, approvals, deeds, certificates of acceptance and documents in connection with the Agreement, or to meet the intent of the Resolution.
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VISION ALIGNMENT
Commitment: Ensure the commitment to responsive, effective and collaborative government.
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Goal 22: County and local governments effectively communicate, collaborate and develop strategic approaches to issues affecting the entire County. The purchase of the subject property will help meet the needs of emancipated foster youth in South San Francisco.
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BACKGROUND
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At the direction of this Board, the Real Property Division pursued the acquisition of property in South San Francisco to provide transitional housing for emancipated foster youth.
An offer was made and accepted to purchase property at 701 Grand Avenue and 215-217 Orange Avenue in South San Francisco. The property consists of three attached residential units of approximately 4,028 square feet. There are no relocation costs associated with the purchase of the units because they are currently vacant. The units will provide housing for approximately nine youth, including one resident advisor.
The purchase price of $1,297,000 is supported by an internal appraisal. A deposit of $39,000 has been made and this amount is attributable to the purchase price.
The Clerk of this Board has published a Notice of Public Hearing of the intent to purchase the Property once a week for a period of three weeks in the San Mateo Times.
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DISCUSSION
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As set forth in the Agreement, escrow will close on or before September 30, 2007.
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FISCAL IMPACT
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Funding in the amount of $750,000 is available from San Francisco Redevelopment Agency settlement funds. In addition, South San Francisco has committed $250,000 to refurbishing the property. The balance of the purchase price and closing costs are included in the Human Services Agency 2007-08 fiscal year budget.
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