Deed - Davis St Fire Station (1040) - File 211, 1946

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