HomeMy Public PortalAboutResolution - 20-30- 20201028 - South Cowell PurchaseRESOLUTION 20-30
RESOLUTION OF THE BOARD OF DIRECTORS OF MIDPENINSULA
REGIONAL OPEN SPACE DISTRICT ACCEPTING THE PURCHASE
AND SALE AGREEMENT, AMENDING THE FISCAL YEAR 2020-21
GENERAL FUND CAPITAL BUDGET, AUTHORIZING GENERAL
MANAGER OR OTHER APPROPRIATE OFFICER TO EXECUTE
CERTIFICATES OF ACCEPTANCE FOR GRANTS TO DISTRICT AND
GRANTS FOR THE FUTURE TRANSFER OF PARCELS TO POST AND
THE MARSH TRUST AFTER LAND DIVISION, AND TO EXECUTE
ATTACHMENTS TO THE AGREEMENT AND ANY AND ALL OTHER
DOCUMENTS NECESSARY OR APPROPRIATE TO CLOSING OF THE
TRANSACTION (PURISIMA CREEK REDWOODS OPEN SPACE
PRESERVE - LANDS OF PENINSULA OPEN SPACE TRUST )
WHEREAS, the Board of Directors approves the District's purchase of a partial interest
in the South Cowell Property ("Property") as set forth in the report, attached hereto and
incorporated herein by this reference; and
WHEREAS, as part of the transaction, the District, POST, and Marsh Trust have agreed
to apply for a land division to create a 371 -acre Upland property to be owned in fee by the
District, a 226 -acre farm property retained by the Marsh Trust, and a 2 -acre residence property
retained by POST, and accordingly the Board wishes to authorize the appropriate District officer
to the grant the District's interests in the non -Upland parcels to POST and the Marsh Trust,
respectively.
The Board of Directors of Midpeninsula Regional Open Space District does hereby
resolve as follows:
SECTION ONE. The Board of Directors of Midpeninsula Regional Open Space District
(District) does hereby accept the offer contained in that certain Purchase and Sale Agreement
between Peninsula Open Space Trust (POST) and the Midpeninsula Regional Open Space
District, a copy of which purchase agreement is attached hereto and by reference made a part
hereof, and authorizes the President of the Board of Directors, General Manager, or other
appropriate officer to execute the Agreement and all related transactional documents on behalf of
the District to acquire the real property described therein ("the POST South Cowell Ranch
Property").
SECTION TWO. The Board authorizes the expenditure of $4,750,000.00 covering the
purchase of the South Cowell Ranch Property, including an option deposit of $10,000.00.
SECTION THREE. The Board approves an amendment to the Budget and Action Plan
for Fiscal Year 2020-21 by increasing the Measure AA Fund Capital budget in the amount of
$4,750,000.00. Except as herein modified, the FY 2020-21 Budget and Action Plan, Resolution
No. 20-18 as amended, shall remain in full force and effect.
SECTION FOUR. The General Manager or President of the Board of Directors and/or
other appropriate officer is authorized to execute a Grant Deeds for the future transfer of parcels
to POST and the Marsh Trust after the land division is complete.
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SECTION FIVE. The General Manager, President of the Board of Directors, or other
appropriate officer is authorized to execute a Certificates of Acceptance and the Grant Deeds on
behalf of the District.
SECTION SIX. The General Manager or the General Manager's designee is authorized
to provide notice of acceptance to the seller, execute all escrow documents and to extend escrow
if necessary.
SECTION SEVEN. The General Manager, or General Manger's designee is authorized
to expend up to $50,000.00 to cover the cost of title insurance, escrow fees, rangeland
management plan, land division application, survey and miscellaneous costs related to this
transaction
SECTION EIGHT. The General Manager and General Counsel are further authorized to
approve any technical revisions to the attached Agreement and documents, which do not involve
any material change to any term of the Agreement or documents, which are necessary or
appropriate to the closing or implementation of this transaction.
* *. * * * * * * * * * x x x x x x * * * it x x x * * * * * * * * * *
PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional
Open Space District on October 28, 2020, at a regular meeting thereof, by the following vote:
AYES: CYR, HASSETT, HOLMAN, KERSTEEN-TUCKER, KISHIMOTO, SIEMENS
NOES: NONE
ABSTAIN: NONE
ABSENT: RIFFLE
ATTEST:
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a
Jed Cya`iSecret
Boa f Directors
APPROVED AS TO FORM:
Hilary Stevenson, eneral Counsel
APPROVED:
Karen Holman, President
Board of Directors
1, the District Clerk of the Midpeninsula Regional Open Space District, hereby certify
that the above is a true and correct copy of a resolution duly adopted by the Board of Directors
of the Midpeninsula Regional Open Space District by the above vote at a meeting thereof duly
held and called on the above day.
nnifer
odworth, District Clerk
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