Laserfiche WebLink
CITY COUNCIL <br />TOM OF IAS ALTOS HILLS <br />26379 Freront Road <br />Los Altos Hills, California <br />MINUTFS OF A SPECIAL MEETING <br />Thursday, April 14, 1983 <br />ce: Reel 142, Tr. II, Side II, 285-480 <br />Mayor Perkins called the Special Meeting of the City Council to order at 3:45 p.m. <br />in the Council Chambers of Town Hall. <br />mffim�a a • « <br />Present: Mayor Perkins and CouncihTenbers Allison, Hillestad, Proft and van Tamelen <br />Absent: None <br />Staff: City Manager Ann Hinshaw, City Attorney Frank Gillio, City Planner John <br />Carlson and City Clerk Pat Dowd <br />Press: Ed Hering, San Jose Mercury <br />B. MATADERO CREEK SUBDIVISION - RnATED MAPPERS <br />1. Lot #11 <br />Jackye Wolfe, Fox and Carskadcn, noted that lot #11 had been sold for $207,000 <br />r acted a 10$ discount for an all cash transaction and the close of escrow <br />was scheduled for April 18, 1983. The buyer now wished to change the terms as <br />follows: $207,000 purchase price, dowapayment of $109,250, seller to carry the <br />balance of $97,750 for 6 months at 14% interest. Ms. Wolfe also noted that since <br />the buyer was involved in refinancing negotiations for the do copayment, he was <br />also requesting a later close of escrow, i.e. April 29, 1983. Additionally, the <br />financial statawnts of the buyer needed to be certified by an accountant. Since <br />it was tax time it was being requested that a five working day extension be granted <br />to caoplete this certification. Council discussed these proposed changes, including <br />the ramifications to the Town of interest charges. <br />M%7TION SEODNDED AMID CAPJUM: Moved by Hillestad, seconded by van Tamelen and <br />passed by the following roll call vote to present a counter offer on Lot #11 of <br />$209,700. <br />AYES: Mayor Perkins and CouncihTimbers Hillestad, Proft and van Tamelen <br />NOES: Councilman Allison <br />INION SECONDED AMID CARRIED: Moved by Allison, seconded by van Tamelen and passed <br />unanimously to include in the counter offer certain language stating escrow shall <br />close no later than May 18, 1983 with all funds due to the Town to include 148 <br />interest (computed on $209,700) from April 18, 1983. <br />MOTION SD9DIDED AND CARRIED: Moved by Proft, seconded by Allison and passed unani- <br />mously to include in the counter offer an extension of five working days for appli- <br />cant to submit a financial statement certified by an accountant and four working <br />days for the Town to approve. <br />