HomeMy WebLinkAbout03-02-2016 Release of Real Property Exchange Agreement - HASLO 851-860 Humbert AveRECORDING REQUESTED BY AND
WHEN RECORDED RETURN TO:
City of San Luis Obispo
Attn: City Clerk
990 Palm Street
San Luis Obispo, CA 93401
Above space for Recorder's use only
RELEASE OF
REAL PROPERTY EXCHANGE AGREEMENT
This RELEASE OF REAL PROPERTY EXCHANGE AGREEMENT ( "Release ") is made
this day of March, 2016, by the City of San Luis Obispo, a California municipal
corporation and charter city ( "City ").
WHEREAS, on October 1, 2012, City and the Housing Authority of the City of San Luis
Obispo, a public agency, corporate and politic, ( "HASLO "). entered into a Real Property
Exchange Agreement ( "Agreement "), which was recorded on November 13, 2012 as Document
No. 2012065797 in the Official Records of San Luis Obispo County; and
WHEREAS, among other things, the Agreement declared certain real property along the
railroad tracks at 851 and 860 Humbert Avenue, San Luis Obispo, as surplus property and City
agreed to convey the surplus property to HASLO in exchange for HASLO dedicating right -of-
way for a cul -de -sac on Francis Avenue and for a future pedestrian crossing over the railroad
tracks; and
WHEREAS, on December 28, 2012, a subdivision map for the first phase of Tract 2977 was
recorded in Book 33 of Maps Page 48 in the Office of the County Recorder of San Luis Obispo
County, State of California; and
WHEREAS, recordation of said subdivision map executed all the property exchanges required
by the Agreement, thereby fulfilling all conditions and requirements of the Agreement.
NOW THEREFORE, said Agreement recorded as Document No. 2012065797 in the Official
Records of San Luis Obispo County is hereby fully satisfied, released, and discharged and any
cloud on the above referenced parcel related to this document is hereby removed. Nothing in this
Release shall affect or modify the Environmental Indemnity Agreement dated October 4, 2012,
Page 1 of 2
and recorded on November 13, 2012, as Document Number 2012065798 in the Official Records
of San Luis Obispo County.
IN WITNESS WHEREOF, the parties hereto have executed this Release as of the date first set
forth above.
CITY OF SAN LUIS OBISPO,
a California municipal corporation and charter city
By: c.
Katie Lic ttg f
City Manager, ",
ATTEST:
By:
Lee Prict
Interim City Clerk
• • tw
V ti stine Dietrick
Attorney
Date
Page 2 of 2
City Manager i t
Final City Manager Approval
Approver Name
Date Approved
City Administration
_
Shelly
_
3/2/16
Reviewer Routing List
Reviewer Name
Date Reviewed
Finance & Information Technology
DJJ
03/01/16
City Attorney
Jma
3/2/16
March 1, 2016
FROM: Michael Codron, Community Development Director WC
PREPARED BY: Diane Dostalek, Senior Civil Engineer
SUBJECT ": Release of Real Property Exchange Agreement for HASLO
RECOMMENDATION
Approve release of a Real Property Exchange Agreement for the Housing Authority of the City
of San Luis Obispo ( HASLO) for Tract 2977, 851 and 860 Humbert, and authorize City Staff to
take action necessary to carry out the intent of the release, including recordation of the release.
BACKGROUND
On October 1, 2012, the City and HASLO entered into a Real Property Exchange Agreement
(the "Agreement ") (Attachment 1) whereas City declared certain property along the railroad
tracks as surplus property and agreed to give that property to HASLO in exchange for HASLO
dedicating right -of -way for a cul -de -sac on Francis and for a future pedestrian crossing over the
railroad tracks. This exchange helped facilitate construction of Tract 2977, commonly known as
the Moylan Terrace project.
On December 28, 2012, a subdivision map for the first phase of Tract 2977 was recorded.
Recordation of the map executed all the property exchanges required by the Agreement, thereby
fulfilling all conditions and requirements of the Agreement.
DISCUSSION
HASLO has requested that the City release the Agreement, so it no longer clouds the title report
for any of the Tract 2977 lots. Since all requirements of the Agreement have been met, City staff
concurs that the Agreement can be released. The release form is included as Attachment 2. Once
signed by the City Manager, staff will record the release.
FISCAL IMPACT
There is no fiscal impact associated with release of the Agreement since all requirements of the
Agreement have already been met.