CC Resolution 12013RESOLUTION N0.12013
BEING A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CAMPBELL
AUTHORIZING THE CITY MANAGER TO ENTER NEGOTIATIONS FOR ACQUISITION TO
PURCHASE PROPERTY AND APPOINT A NEGOTIATOR
WHEREAS, on May 13'", the City received a homeowner's notice of intent to sell their
1 BR/1 Bath Below Market condominium unit; and
WHEREAS, the City responded to -the notice on May 18t" thereby exercising its option to
purchase the home or assign its right to a City designated purchaser; and
WHEREAS, on May 20t", the homeowner acknowledge the City response, giving the City (or the
City's designated purchaser) 90 days to open an escrow account for purchase of the home.
NOW, THEREFORE, BE IT RESOLVED; that the City Council of the City of Campbell hereby
authorizes the City Manager to enter negotiations for acquisition to purchase and appoint a
negotiator to purchase the home at a restricted resale price, sell the home at a market rate
price, and use the proceeds to further the City's Affordable Housing Program.
PASSED AND ADOPTED, this 215tday of June, 2016 by the following roll:
AYES: COUNCILMEMBERS: Kotowski, Resnikoff, Cristina, Gibbons, Baker
NOYES COUNCILMEMBERS: None
ABSTAIN: COUNCILMEMBERS: None
ABSENT: COUNCILMEMBERS: None
APPROVED: l~~~l
Jason T. Baker, Mayor
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ATTEST.
Wendy d, City Clerk