REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY
AND RECORD OF ACTION
March 26, 2024
FROM
TERRY W. THOMPSON, Director, Real Estate Services Department
SUBJECT
Title
Purchase and Sale Agreement and Joint Escrow Instructions with Galaxy Investment Partners Fund LLC for the Acquisition of an Office Building in Victorville
End
RECOMMENDATION(S)
Recommendation
1. Find that the acquisition of approximately 1.24 acres of real property improved with an office building, totaling approximately 26,962 square feet (Assessor's Parcel Number 0396-142-10), located at 15480 Ramona Avenue in the City of Victorville, is an exempt project under the California Environmental Quality Act Guidelines Section 15061(b)(3).
2. Approve Capital Improvement Program Project No. 24-136 to acquire approximately 1.24 acres of real property improved with an office building, totaling approximately 26,962 square feet (Assessor's Parcel Number 0396-142-10), located at 15480 Ramona Avenue in the City of Victorville, for the purchase price of $3,000,000 plus an independent consideration payment, escrow expenses, title fees, and due diligence inspection costs estimated to be $55,100, for a total estimated cost of $3,055,100.
3. Authorize the acquisition of approximately 1.24 acres of real property improved with an office building, totaling approximately 26,962 square feet (Assessor's Parcel Number 0396-142-10), located at 15480 Ramona Avenue in the City of Victorville, for the purchase price of $3,000,000 plus an independent consideration payment, escrow expenses, title fees, and due diligence inspection costs estimated to be $55,100, for a total estimated cost of $3,055,100, in accordance with Government Code section 25350.
4. Approve the Purchase and Sale Agreement and Joint Escrow Instructions with Galaxy Investment Partners Fund LLC, to acquire said improved property in Recommendation No. 3.
5. Authorize the Auditor-Controller/Treasurer/Tax Collector to...
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