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HomeMy WebLinkAboutItem 4.06 AgrmntPrch5PrclsTr4978CITY OF DUBLIN AGENDA STATEMENT City Council Meeting Date: July 13, 1992 SUBJECT Agreement for Purchase of Property from Five Parcels Within Tract 4978 (BJ Dublin Commercial) for Dublin Boulevard Extension EXHIBITS ATTACHED: RECOMMENDATION: 1) Resolution 2) Agreement 3) Location Map Adoptresolution approving and authorize agreement Mayor to execute. FINANCIAL STATEMENT: The agreed purchase price is $780,879.00 (or $9.00 per square foot for approximately 86,784 square feet). This cost is to be paid by the Dublin Boulevard Extension Assessment District 91-1. DESCRIPTION: These properties to be purchased are portions of five parcels of land within Tract 4978. The tract extends from Dougherty Road to the Southern Pacific right-of-way and is owned by the BJ Dublin Commercial partnership, of which John Moore is Managing Partner. These future street right-of-way parcels were originally to be dedicated as part of the Tract Map; however, a subsequent change in condition allowed the landowner to be paid for the parcels and to have the cost assessed back to the property. The agreed purchase price is $780,879, which is consistent with the City's appraisal. This cost is paid by the Dublin Boulevard Extension Assessment District. Staff recommends that the City Council adopt the resolution approving the purchase agreement, authorizing the Mayor to execute the agreement and the Certificate of Acceptance for the deeds, and declaring the property to be a portion of the Dublin Boulevard street rights-of-way. a: (dbx) \agenda\aEstmrw ...................................................... % · ITEM NO.~ COPIES TO: John Moore ---' .... -~-I-~-~ CLX: R~( RESOLUTION NO. -92 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DUBLIN APPROVING PURCHASE OF REAL PROPERTY, DRAWING AND DELIVERING WARRANTS, ACCEPTING AND RECORDING GRANT DEEDS, AND DECLARING THIS PORTION OF DUBLIN BOULEVARD AND DOUGHERTY ROAD A PART OF THE CITY STREET SYSTEM WHEREAS, the hereinafter described real property situated in the City of Dublin, State of California, is required by the City of Dublin for public street purposes, to wit, the Extension of Dublin Boulevard to the east of Dougherty Road and the widening of the east side of Dougherty Road; and WHEREAS, BJ Dublin Commercial Partnership agreed to sell said real property to the City of Dublin for public street purposes, for the amount of $780,879.00; NOW, THEREFORE, BE IT RESOLVED that the purchase of said real property for public street purposes from the aforesaid owner for the aforesaid amount be and the same is hereby approved; and the Mayor is hereby authorized to execute the real property purchase agreement and the Certificate of Acceptance. BE IT FURTHER RESOLVED that the Finance Director, upon notification by the City Engineer as to payee and amount, is hereby authorized and directed to draw his warrant on the Dublin Boulevard Extension Assessment District Fund, as so notified, said warrant to be forwarded to the City Engineer, to be by him delivered to the payee through escrow at such time as title to the hereinafter described real property is vested in the City of Dublin; and BE IT FURTHER RESOLVED that that certain deed from the aforesaid owner, conveying said real property to the City of Dublin be, and the same is hereby accepted, and the City Clerk be, and she is hereby authorized and directed to record the same at the office of the Recorder of Alameda County; and BE IT FURTHER RESOLVED that upon such recordation, said real property, described in the manner aforesaid, be and the same is hereby declared to be a part of the City System of Streets, and is hereby designated as a part of Dublin Boulevard and Dougherty Road. The real property hereinabove referred to is more particularly described in the Description of Dedication attached to the Real Property Purchase Asreement as Exhibit "A". PASSED, APPROVED, AND ADOPTED this 13th day of July, 1992. AYES: NOES: ABSENT: ATTEST: Mayor City Clerk a: (dbx) \agenda\resomrw AGREEMENT THIS AGREEMENT is made and entered into this day of July, 1992, and between BJ DUBLIN COMi~ERCIAL, a California Limited Partnership (hereinafter referred to as "Seller") and the CITY OF DUBLIN, a municipal corporation (hereinafter referred to as "Buyer"). RECITALS A. Seller is the owner of that certain real property in the City of Dublin located on Dougherty Road, also known as APNs 0941-0550-40, 41, 42, 43 and 44, arid described in Exhibit "A" attached hereto and incorporated herein by reference. B. Buyer desires to purchase portions of APNs 0941-0550- 40, 41, 42, 43 and 44, containing approximately 86,764.3 square feet.. These portions of Seller's property are hereinafter referred to as the "subject property". C. Buyer and Seller have reached an agreement pursuant to which City will purchase the subject property for $780,879.00 ($9.00 per square foot) for the Dublin Boulevard Extension Project. Buyer intends to pay Seller said sum and record a Grant Deed to the subject property within thirty (30) days from July 13, 1992, %he date of City Council appz'oval of this Agreement. NO%~, THEREFORE, IT IS AGREED AS FOLLONS: 1. Seller agrees to sell and Buyer agrees to purchase the above-identified property located on Dougherty Road in the City of Dublin, County of Alameda, State of California, and described in Exhibit "A" attached hereto and incorporated herein by reference. 2. The purchase price of said property is SEVEN HUNDRED EIGHTY THOUSAND EIGHT HUNDRED SEVENTY-NIXiE DOLLARS ($780,879.00), payable as follows: 3. This sale shall be consummated through an escrow established with Northwestern Title Company, P. O. Box 572, Pleasanton, California 94566. The closing date for the escrow shall remain open, but shall occur no later than July 31, 1992. Closing of e~crow is contingent upon verification of title. Escrow shall be considered closed when tho grant deed to the property is recorded. Within fifteen (15) days after execution of this Agreement, each party shall execute and deliver to the escrow holder its written instructions consistent with the terms of this Agreement and shall provide the escrow ho]der with such other information, documents, and instru]nents as the escrow holder may reasonably require to enable it to close the transactions on the closing date. If the designated escrow holder should be unable to or unwilling to act, Buyer shall, designate another escrow holder subject to the Seller's approval, which shall no~ be unreasonably withheld. 3. on close cf escro%;, title shall vest in the City of Dublin, a municipal corporation. 4. Seller shall by grant deed convey to Buyer a fee simple interest free and clear of all title defects, liens, encumbrances, deeds of trust, and mortgages except real property taxes, and a lien not delinquent. Buyer shall take property subject to the existing sanitary sewer, poieline, pipeline, public utility, and storm drainage easements currently in force on the subject property. 5. Buyer shall pay all costm of escro%~ and title insurance and closing costs. 6. The undersigned Buyer offers and agrees to buy the property on the terms and conditions stated in this Agreement and acknowledges receipt of a copy of the Agreement. DATED: , 1992 BUYER: THE CITY OF DUBLIN, a Municipal Corporation By: PETER SNYDER, Mayor 7. The undersigned Seller accepts the foregoing offer to purchase the property and agree to sell the property to Buyer on the terms and conditions specified herein. Seller acknowledges receipt of a copy of this Agreement arid authorize broker to deliver a signed copy to Buyer. DATED: , 1992 SELLER: BJ DUBLIN COMMERCIAL, a California Li~]ited Partnership By JOHN MOORE, President of J. PAq'RICK LAND COMPANY, General Partner for BJ DUBLIN COMMERCIAL, a California Limited Partnership : I .1'