HomeMy WebLinkAboutAction of the City Council purchase of Sale ACTION OF THE CITY COUNCIL OF THE
CITY OF LAKE ELSINORE, CALIFORNIA
Council Meeting Date: June 23, 2020
Council Members Present: Council Members Manos, Johnson, and Sheridan, Mayor Pro Tern
Magee, and Mayor Tisdale
Council Members Absent: None
31) Agreement and Escrow Instructions for Purchase and Sale of Real Property 215 W.
Graham Avenue, Lake Elsinore (APN 374-172-009-3, -012-5, & -021-3)
1. Approve the purchase of real property located at 215 W. Graham Avenue (APN
374-172-009-3. -012-5, & -021-3) for $2,250,000, ratify the City Manager's execution of
the Agreement and Escrow Instructions for Purchase and Sale of Real Property on file
with the City Clerk and further authorize the City Manager or designee to execute such
other ancillary documents as may be necessary to complete the purchase. in such final
form as approved by the City Attorney-,
2. Allocate funds from the Low and Moderate Income Housing Asset Fund (Fund 617) to
purchase the property and authorize the City Manager to execute and record a
regulatory agreement restricting the property to affordable housing purposes-, and
3. Allocate funds from the City's Housing Fund 106 to make necessary repairs and to pay
taxes due pursuant to LEMC Chapter 3.32 in a cumulative estimated amount of
$215,500.
A motion was made by Council Member Johnson, seconded by Council Member Manos, to
approve this item. The motion carried by the following vote:
Aye: 5 - Mayor/Chair Tisdale, Mayor Pro TemNice-Chair Magee, Council Member/Agency
Member Sheridan, Council Member/Agency Member Johnson and Council
Member/Agency Member Manos
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) SS.
CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify
the foregoing to be the official action taken by the City Council at the above meeting.
IN WITNESS WHEREOF, I have hereunto set my hand and seal this 15` day of July
2020.
I /
Candice Alvarez, MMC
City Clerk of the
City of Lake Elsinore, California