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r <br />CITY OF SAN LEANDRO <br />MEMORANDUM <br />DATE: October 21, 2004 <br />TO: Mary McCarthy, Deputy Finance Director <br />FROM: Margaret McCluckie, Sr. Admin. Asst./Bus. Dev. <br />SUBJECT: 1016-1052 Davis Street (former Fire Station#10) <br />In regards to the sale of 1016-1052 Davis Street, which closed escrow on October 20, <br />2004, attached are: <br />• Check #131100687, dated 10/20/04, for $169,501.17 from First American Title Co. <br />• Copy of Seller's Settlement Statement <br />• Copy of recorded Grant Deed, #2004470337, evidencing transfer from the <br />Redevelopment Agency to 1040 Davis Street Partnership <br />• Copy of memo dated October 31, 2003 regarding conveyance of the property from <br />the City of San Leandro to the Redevelopment Agency (RDA Res. 2003-014 and <br />CC Res. 2003-196). <br />As noted in the October 31, 2003 memo, payment for the transfer from the City to the <br />Agency was deferred until such time as the Agency disposed of the property, less any <br />property preparation costs. The only "costs" the Agency has incurred was for installation of <br />security fencing ($1,031.00). 1040 Davis Street Partnership was required put up a deposit <br />of $10,000 (961-220-2299) for which was credit was given on the purchase price. <br />Consequently, this $10,000 now becomes part of the sale proceeds. <br />Please process all required financial transactions to show <br />1. Deposit $179,501.17 (sale proceeds $169,501.17 + $10,000 deposit) as Revenue to <br />the Agency. <br />2. Transfer of $178,470.17 (total sale. proceeds of $179,501.17 - $1,031.00 costs) to <br />the City of San Leandro per the terms of RDA Res. 2003-014 and CC Res. 2003- <br />196 as full and complete payment for the conveyance of the property. <br />Please provide me with documentation on the transfer of funds to the City of San Leandro <br />for my file. If you need anything further, call me at ext. 3311. <br />Attach: As noted <br />cc: FYI: L. Sims; A. Lorentz <br />G:\DEPT\Office of Business Development\Files RDA\Plaza\1040 Davis - FS#10\Sale Proceeds.doc <br />