HomeMy WebLinkAbout03/24/1983CITY COU*K=
TOM OF LOS ALTOS HILLS
26379 Fremont Road
Los Altos Hills, California
MEJMS OF A SPECIAL MEETING
Thursday, March 24, 1983
ro: Reel 142, Tr. I, Side II, 302-485
Mayor Perkins called the Special Meeting of the City Council to order at 4:00 p.m.
in the Council Chambers of Town Hall.
A. ROLL CALL'
Present: Mayor Perkins and Councilmenbers Allison, Hillestad, Proft and van Tamelen
Absent: None
Staff: City Manager Ann Hinshaw, City Attorney Frank Gillio and City Clerk Pat
DOW
Press: Mary Duenwald, Peninsula Times Tribune; Ed Hering, San Jose Mercury
•:11• M'l:M•I • • �' •PIONW06WOODDION • i• I I :I4.
1. Lot #13
Jackye Wolfe, Fox & Carskadon, reported that she had received an offer on Lot #13
of 255,500 fall cash offer), with a closing date of April 16, 1983 and an increase
in the deposit to 108 of purchase price within 14 days of removal of all contingen-
cies.
The potential buyer through his broker explained that this offered price was
$3,500 more than required with a 108 cash discount. Originally it appeared that
there were going to be multiple offers on Lot #13, thus the increase in the offered
price. The potential buyer now wanted to change his offered price to $252,000 since
his was the only offer on Lot #13. In addition the following changes were discussed:
closing date changed £ran April 16 to April 15; increase in the deposit to 108 of
purchase price within 5 days of removal of all contingencies.
MOTION SBODNDED AND CAPJ=: Moved by Hillestad, seconded by van Tamelen and
passed unanimously to adopt Resolution #1538 accepting proposal and ordering sale
of real property, directing payment of real estate camiission, authorizing execu-
tion and delivery of deed concerning Lot 13, Tract No. 7187, Matadero Creek Sub-
division, subject to price of $252,000, closing date of April 15 and receipt of
deposit within five days.
2. Lot #3
Jackve
If e_ Fox & Carskadon, reported that she had received an offer on Lot #3
of $237,500 with a downpayment of $125,000. This reflected 508 cash down and buyer
had taken a 58 discount for this downpayment. Seller was to carry a rote for the
balance of $112,500 at 148 for 3 years.
CITY OOUNCIL MINUTES - March 24, 1983
B. MATADERO CREEK SUBDIVISION - OFFERS ON LOTS AfID RELATED NATTERS: Lot #3 (continued)
Council discussed the five percent discount taken by the buyer for the down -
payment and van Tamelen expressed serious concerns about this discount. In
her opinion, five percent was not correct; the amount of discount should be
less in view of the amount of downpayment.
MOTION SECONDEO AND CARRIED: Moved by Allison, seconded by Perkins and passed
by the following roll call vote to adopt Resolution #1539 accepting proposal and
ordering sale of real property, directing payment of real estate camdssion, author-
izing execution and delivery of deed, and accepting deed of trust and authorizing
recordation thereof concerning Lot #3, Tract No. 7187, Matadero Creek Subdivision.
AYES: Mayor Perkins and Councilmmbers Allison, Hillestad and Proft
NOES: Councilwoman van Tamelen
For information purposes Jackye Wolfe reported that, after conversations with
the City Attorney, it was agreed that all promissory notes would contain a due
on sale clause.
Mr. Thomas Miles, owner of Lot #13, commented to the Council that he was looking
forward to living in Los Altos Hills.
(*see below)
MOTION SBOOMED TM CARRIED: Moved by Allison, seconded by Hillestad and passed
unanimously to direct the City Attorney to prepare a resolution cainending Fox &
carskadon for doing an excellent jab regarding Matadero Creek with particular
appreciation expressed to Jackye Wolfe and Jean Cleaver.
C. AWOUR[TME:
There being no further new or old business to discuss, the City Council adjourned
at 4:35 p.m.
Respectfully submitted,
Patricia DUA, City Clerk
*For the record it should be noted that with the sale of Lot #3, all tconty
lots in the Matadero Creek Subdivision have now been sold. (ADDED BY NUVCIL
4/6/83)
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