BOARD AGENDA MEMORANDUM
SUBJECT:
Title
Resolution Authorizing the Exchange of Real Property Interests with Silicon Valley Club, LLC at Assessor Parcel Nos. 015-45-013 and 015-45-024, Real Estate File Nos. 3015-503.1, 3015-55.4 and 3015-684 (San Jose) (District 3).
End
RECOMMENDATION:
Recommendation
A. Adopt the resolution AUTHORIZING EXCHANGE OF REAL PROPERTY RIGHTS WITH SILICON VALLEY CLUB, LLC ADJACENT TO GUADALUPE RIVER, ASSESSOR PARCEL NOS. 015-45-013 and 015-45-024, REAL ESTATE FILE NOS. 3015-503.1, 3015-55.4 and 3015-684;
B. Authorize the Chief Executive Officer(CEO) to execute the Santa Clara Water District Real Property Exchange Agreement for District Real Estate File Nos. 3015-503.1, 3015-55.4 and 3015-684;
C. Authorize the CEO to accept the Easement Deed from Silicon Valley Club, LLC, District Real Estate File No. 3015-684; and
D. Authorize the CEO to execute the Quitclaim Deed to Silicon Valley Club, LLC, District Real Estate File Nos. 3015-503.1 and 3015-55.4.
Body
SUMMARY:
Silicon Valley Club, LLC, a Delaware limited liability company (Developer), owns fee title to property in the neighborhood of Alviso, City of San Jose, Assessor Parcel Numbers 015-45-013 and 015-45-024 (Subject Property) that they are in the process of developing with a hotel. The Santa Clara Valley Water District (District) currently possesses easement rights on, over, under and upon portions of the Subject Property for ingress-egress and for construction, operation, and maintenance of environmental improvements (Attachment 1).
As part of development of the site, the Developer has requested to re-align the existing District easements along the northerly portion of the Subject Property adjacent to the Guadalupe River. The new easement (Attachment 5) would be more uniform in width, would add a contiguous area that is currently excluded from the existing easement, and would better align with the intended use of the site. In exchange for realigned easement, the Di...
Click here for full text