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ECONOMIC DEVELOPMENT AGENCY
OF THE CITY OF SAN BERNARDINO `
REQUEST FOR COMMISSION/COUNCIL ACTION
FROM: RONALD E.WINKLER SUBJECT: GOVERNMENT'S ACCEPTANCE
Development Director TRUSTEE'S DEED UPON SALE
DATE: June 12, 1998
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Synopsis of Previous Commission/Council/Committee Action(s):
None.
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Recommended Motion(s):
(Community Development Commission)
MOTION: RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF
SAN BERNARDINO AUTHORIZING THE CHAIRPERSON TO ACCEPT AND EXECUTE A
GOVERNMENT ACCEPTANCE IN CONNECTION WITH A TRUSTEE'S DEED UPON SALE.
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Contact Person(s): Ronald E.Winkler/ Phone: 5081
Project Area(s): N/A Ward(s): Three(3)
Supporting Data Attached:❑X Staff Report El Resolution(s) ❑ Agreement(s)/Contract(s) ❑ Map(s) ❑ Ltr/Memo
FUNDING REQUIREMENTS: Amount: N/A Source: N/A
Budget Authority: N/A
SIGNATURE:
Ronald E.Yinkler,Director
Development
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Commission/Council Notes:
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REW:lag:06-15-04.cdc COMMISSION MEETING AGENDA
MEETING DATE:06/15/1998
' Agenda Item Number: a —3
ECONOMIC DEVELOPMENT AGENCY
STAFF REPORT
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Government's Acceptance Trustee's Deed Upon Sale
As you know it was necessary of the Agency to initiate foreclosure action under its note and deed
of trust held on the property of the northwest corner of Barton and Waterman Avenues. Title of
the property was held by Fast Foods Development Inc., and originally the subject of negotiation
for residential housing development.
The Agency acquired the interest to a note and deed of trust in the amount of$2,023,000 held by
the U.S. Department of Housing and Urban Development together with a second deed of trust
held by Commerce Bank in the amount of$400,000. These interests were acquired by the
Agency at a total cost of$750,000.
The foreclose sale is now complete and title to the property can be conveyed to the Agency. In
order to record ownership to the Agency it is necessary for the Community Development
Commission to adopt the attached Resolution accepting the grant deed and authorizing the
Director to execute necessary documents. Finally, it should be noted that a number of developer
have expressed interest in the site and staff expects to receive proposal for purchase of the
property in the near future.
In view of the above it requested that the attached Resolution be adopted.
!'v' � L
160NALD . WINKLER, Director
Development Department
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REW:Iag:06-15-04.cdc COMMISSION MEETING AGENDA
MEETING DATE:06/15/1998
Agenda Item Number:
1 RESOLUTION NO.
2 RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE
CITY OF SAN BERNARDINO AUTHORIZING THE CHAIRPERSON TO ACCEPT AND
3 EXECUTE A GOVERNMENT ACCEPTANCE IN CONNECTION WITH A TRUSTEE'S
DEED UPON SALE.
4
BE IT RESOLVED, DETERMINED AND ORDERED BY THE COMMUNITY
5
DEVELOPMENT COMMISSION OF THE CITY OF SAN BERNARDINO AS FOLLOWS:
6
SECTION 1. The Chairperson of the Community Development Commission of the City of
7
San Bernardino is hereby authorized to accept and execute a GOVERNMENT ACCEPTANCE in
8
substantially the same form attached hereto and marked as Exhibit "A" in connection with a
9
TRUSTEE'S DEED UPON SALE for real property in the City of San Bernardino, State of
10
California, described as follows:
11
LOT 8,TRACT NO. 11414,IN THE CITY OF SAN
lz
BERNARDINO,COUNTY OF SAN BERNARDINO,
13
STATE OF CALIFORNIA, AS PER PLAT RECORDED
14
IN BOOK 157 OF THE MAPS, PAGES 41 THROUGH
15
44,INCLUSIVE, RECORDS OF SAID COUNTY.
16
17
18
19
20
21
22
23
24
25
26
27
28
1
I RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF THE
CITY OF SAN BERNARDINO AUTHORIZING THE CHAIRPERSON TO ACCEPT AND
2 EXECUTE A GOVERNMENT ACCEPTANCE IN CONNECTION WITH A TRUSTEE'S
DEED UPON SALE.
3
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Community
4
Development Commission of the City of San Bernardino at a
5
meeting thereof, held on the day of , 1998, by the following
6
vote, to wit:
7
COMMISSION MEMBERS: AYES ABSIAIN ABSENT
8
ESTRADA
9
LIEN —
10
ARIAS
1I
SCHNETZ —
12
DEVLIN —
13
ANDERSON ---—
14
MILLER — ~-
15
16 Secretary
17
18
The foregoing Resolution is hereby approved this day of >
19 1998.
20
21 JUDITH VALLES, Chairperson
Community Development Commission
22 of the City of San Bernardino
23
Approved as to form and
24 legal content:
25
26 Jjj d,
27 By Agency Counsel
28
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GomeRivurNr ACCUP rANCE
TThis is to certify that the Interest In real propety
conveyed by the dead or grant dated
from to
corporation and/or govemcnentai agency .1s hereby
accepted by. QWR _of,•the ( . . :,.: �„r,°: u• ran. _ >° -�,;�a� � : ; ,
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for by the undersigned officer or agent on behalf of the
pursuant to authority conferred by
(e$1�tanvP; t�oepi
raiolution of the r I adopted on ( ,
and the grantee cdnsents•tv recordation thereof by its
duty �atuthorized bluer. .
Dated _ By
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EXHIBIT "A"