HomeMy Public PortalAboutResolution - 23-07- 20230412 - South Cowell PurchaseRESOLUTION 23-07
RESOLUTION OF THE BOARD OF DIRECTORS OF MIDPENINSULA
REGIONAL OPEN SPACE DISTRICT ACCEPTING THE PURCHASE
AND SALE AGREEMENT, 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 THE MARSH TRUST,
EXECUTING AND ACCEPTING A PUBLIC TRAIL EASEMENT, AND
EXECUTING ATTACHMENTS TO THE AGREEMENT AND ANY AND
ALL OTHER DOCUMENTS NECESSARY OR APPROPRIATE TO
CLOSE THE PURISIMA CREEK REDWOODS OPEN SPACE PRESERVE
- LANDS OF PENINSULA OPEN SPACE TRUST TRANSACTION
WHEREAS, the Board of Directors ("Board") approves the Midpeninsula Regional
Open Space District's ("District") 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 and Marsh Trust have agreed to
complete a land division to create a 375.45 -acre Upland parcel (includes the 3.45 -acre
Residential Property) to be owned in fee by the District and a 236 -acre farm property retained by
the Marsh Trust, and accordingly the Board wishes to authorize the appropriate District officer to
grant the District's interests in the non -Upland parcels to the Marsh Trust.
Now, therefore, 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
does hereby accept the offer contained in that certain Purchase and Sale Agreement between
Peninsula Open Space Trust (POST) and the 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 (including amendments to the tenancy -in -common agreement, water
allocation agreement and assignment of caretaker agreement) 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 $1,251,000.00 covering the
purchase of the South Cowell Ranch Property, including an option deposit of $10,000.00.
SECTION THREE. The General Manager or President of the Board of Directors and/or
other appropriate officer is authorized to execute a Grant Deed for the future transfer of parcels
to the Marsh Trust after the land division is complete and to execute and accept a public trail
easement over the farm portion of the property.
SECTION FOUR. The General Manager, President of the Board of Directors, or other
appropriate officer is authorized to execute Certificates of Acceptance and the Grant Deeds on
behalf of the District.
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SECTION FIVE. 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 SIX. The General Manager or the General Manger's designee is authorized
to expend up to $50,000.00 to cover the cost of title insurance, escrow fees, land division, survey
and miscellaneous costs related to this transaction
SECTION SEVEN. 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.
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
PASSED AND ADOPTED by the Board of Directors of the Midpeninsula Regional
Open Space District on April 12, 2023, at a regular meeting thereof, by the following vote:
AYES: CYR, GLEASON, HOLMAN, KERSTEEN-TUCKER, KISHIMOTO,
MACNIVEN, RIFFLE
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
ATTEST:
Craig Gleason, Secretary
Board of Directors
APPROVED AS TO FORM:
Hilary Stevenson, General Counsel
APPROVED:
ko Kishimoto, President
d of Directors
I, 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.
a Soria, District Clerk
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