Memorandum
Date: October 7, 2021
To: The Honorable Lake County Board of Supervisors
From: Scott De Leon, Public Works/Water Resources Director
Subject: (Sitting as the Board of Directors for the Lake County Watershed Protection District) Approve the Purchase Agreement with Michael S. Mountanos for acquisition of property within the Middle Creek Flood Damage Reduction and Ecosystem Restoration Project in the amount of $1,495,600.00 and authorize the Chair of the Board of Directors to sign the Purchase Agreement
Executive Summary:
Our relocation consultant Paragon Partners, Ltd (Paragon) has reached an agreement for the purchase of property known as Assessor's Parcel Numbers 031-031-090 & 031-041-320 owned by Michael S. Mountanos, Trustee of the Michael S. Mountanos Living Trust. The purchase of this property will be a step closer toward the development of the Middle Creek Flood Damage Reduction and Ecosystem Restoration Project.
The appraisal was prepared and presented by a third party hired by Paragon in the amount of $1,371,000.00. Paragon received a counter-offer by the current owner's broker in the amount of $1,000.00 more per acre. Paragon notified the County of the counter-offer to which the County approved of the counter-offer. As a result, Paragon drafted an Administrative Settlement outlining the increase of the first written offer amount from $1,371,000.00 to $1,495,600.00.
$1,371,000.00 of the acquisition cost is being funded through Grant funds awarded by the State of California, Department of Water Resources, and the Flood Corridor Program following the provisions required by the Uniform Relocation Assistance and Real Properties Acquisition Policies Act of 1970. The remaining $124,600.00 is being funded by the District by means of available Reserves as outlined by the Administrative Settlement approved by the Board of Directors on June 2, 2021. The District is actively seeking additional funding opportunities to reimburse the borrowed $125,6...
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