Agenda Item
Meeting Date: 2/18/2020 - 7:00 PM
Category: Other Action Items
Type: Info/Action
Subject: (Item OAI-2) Resolution 2020-20 Authorizing the Purchase of Real Property located at 19440 N Jack Tone Road, Lockeford, CA 95237 (Mr. Kahn)
:
Enclosure: Resolution 2020-20 Authorizing the Purchase of Real Property located at 19440 N Jack Tone Road, Lockeford, CA 95237
Exhibit A Parcel Map
File Attachment:
Reso 2020-20 Approving Purchase of Real Property Jack Tone Road.ada.pdf
Lockeford Map.ada.pdf
Summary: In 2016, property consisting of vacant land, with some potential for future subdivision east of Lockeford Elementary was listed for sale, by Peterson & Co. Real Estate and the district appraisal was far below the asking price. The subject property, as referenced above, is located at 19440 North Jack Tone Road in Lockeford, San Joaquin County, California. It is further identified as tax parcel number 019-020-38. The subject site is a 1.15-acre or 50,106-square-foot parcel. The subject parcel is situated on the south side of town and is surrounded by four parcels that are owned by the Lodi Unified School District. In 2019, the property was re-listed with Bokides-Hesseltine Real Estate Company, and a new appraisal was within the means of the asking price of $140,000.00.
On November 5, 2019, in Closed Session, the Board received the terms of the negotiated agreement for purchase of the 1.15 acres of bare ground. In December 2019, an agreement was reached with the sellers, Bonnie Phelps and Dave DFevine, for the purchase price of $140,000 with a credit of $12,000 for the removal of asphalt. The Resolution authorizes staff to execute the purchase agreement and acceptance of grant deed, as required by law.
Funding: This project shall be funded by Fund 40.
Recommendation: It is recommended the Board of Education adopt Resolution 2020-20.
Approvals:
Recommended By:
Signed By:
Vickie Brum - Planning Analyst II
Signed By:
Leonard Kahn - Chief Business Officer
Signed By:
Cathy Washer - Superintendent