CC Resolution No. 7439
RESOLUTION NO. 7439
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CUPERTINO
AUTHORIZING ACCEPTANCE OF DEED FOR REAL PROPERTY LOCATED
AT 19810 PORTAL PLAZA AND $3,000 FOR BELOW MARKET OBLIGATION
AND RELEASING ENCUMBRANCE ON FIVE UNITS IN TRACT 7575,
TOWN CENTER PROPERTIES
WHEREAS, the City of Cupertino requires developers to fulfill a below
market obligation for certain residential developments; and
WHEREAS, the City Council has reviewed various methods of fulfilling
this obligation;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Cupertino
hereby accepts deed for real property located at 19810 Portal Plaza and the sum of
$3,000 from Town Center Properties to fulfill the obligation, authorizes the release
of encumbrance on five units in Tract 7575, and authorizes the City Manager and City
Clerk to execute the necessary documents.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of
Cupertino this 7rh day of March , 1988, by the following vote:
Vote
Members of the City Council
AYES:
Koppel, Plungy, Rogers, Gatto
NOES:
None
ABSENT:
Johnson
ABSTAIN:
None
ATTEST:
APPROVED:
Isl Dorothy Corneluis
City Clerk
I~I John M. ~~~rn
Mayor, City of Cupertino