HomeMy Public PortalAbout19810318 - Minutes - Board of Directors (BOD) eting 81-7
IV
MIDPENINSULA REGIONAL OPEN SPACE DISTRICT
375 DISTEL CIRCLE,SUITE D-1,LOS ALTOS,CALIFORNIA 94022
(415) 965-4717
Special Meeting
Board of Directors
M I N U T E S
MarZih-119,-1581
I. ROLL CALL
President Richard Bishop called the meeting to order at 8 :20 A.M.
Members Present: Katherine Duffy, Daniel Wendin, Barbara Green,
Edward Shelley , Nonette Hanko, and Richard Bishop.
Member Absent: Harry Turner
Personnel Present: Herbert Grench, Craig Britton, Steven Sessions,
Stanley Norton, and Jean Fiddes .
II . OLD BUSINESS WITH ACTION REQUESTED
1. Financing Adjustment - Russian Ridge Open Space Preserve
(Co—plon Propert
C. Britton revieweFmemorandum M-81-31, dated March 16, 1981,
noting that staff had not been able to close escrow on the Coplon
property subject to the existing financial obligation. He said
the Coplons had advised staff that they were not willing to have
their notes and Deed of Trust in a secondary position, and that
George Nolte, the beneficiary of the existing notes, had requested
he be paid in full because of a "due on sale" provision in the
note. He noted the total purchase price of the property would
be $1 ,000 ,000 , $600 ,000 in cash and $400 ,000 in notes,and said the
Coplons had given the District until March 19 , 1981 to close
escrow in accordance with the contract of the sale.
Motion: K. Duffy moved that the Board reverse its prior action
and direct staff to deliver $600 ,000 in cash to the
title company and close this escrow by adhering to a
strict interpretation of the purchase agreement.
E. Shelley seconded the motion. The motion passed
unanimously.
Motion: K. Duffy moved that the Board reaffirm the budget overrun
of up to the additional $600 ,000 required. B. Green
seconded the motion. The motion passed unanimously.
III. CLAIMS
Motion: E. Shelley moved the approval of Claim 1949 (Claims C-81-6 ,
dated March 18 , 1981) . N. Hanko seconded the motion.
Discussion: C. Britton stated that Claim 1949 in the amount
of $392 ,000 plus the previously approved claim of $208 ,000
to Title Insurance and Trust Co. totaled $600 ,000 . The
motion passed unanimously.
IV. ADJOURNMENT
The meeting was adjourned at 8 :26 P.M.
Jean H. Fiddes
District Clerk
Herbert A.Grench,General Manager Board of Directors:Katherine Duffy,Barbara Green,NonetteG.Hanko,Richard S.Bishop,EdwardG.Shelley,Harry A.Turner,Daniel G.Wendin
CORRECTIONS TO MINUTES OF
7
APPROVAL OF MINUTES
A. March 18, 1981
Motion: B. Green moved the approval of the minutes of March 18, 1981.
D. Wendin seconded the motion.
Discussion: J. Fiddes stated the adjournment time for
the meeting should be changed from 8 : 26 P.M. to 8 :26 A.M.
The motion to approve. the minutes as corrected passed
unanimously.
B. March 25, 1981
D. Wendin requested that the second sentence of paragraph three
on Page six be corrected to read: "He felt the provision of
maps could be discussed under publicity and that camping areas
and transportation were unique items that should be addressed
individually as they came up for a site" .