Title
a. Ratify Natividad Medical Center (NMC) Chief Executive Officer's (CEO) exercise of a Right of First Refusal (ROFR) dated March 5, 2024 to purchase Valle Verde Medical Condominium Complex, 1326 Natividad Road, Suite C, also known as Unit A-3, Salinas, California 93906 (subject property) for $65,000 cash; and
b. Authorize NMC CEO to sign "Disclosure Regarding Real Estate Agency Relationship" dated March 29, 2024 and "Commercial Purchase Agreement and Joint Escrow Instructions" dated March 24, 2024 (Purchase Agreement) for the subject property, subject to due diligence and inspections by County of Monterey (County) and acceptance of Seller's counteroffer to extend timeline for Sellers to respond to County's Purchase Offer; and
c. Authorize the CEO of NMC and the Director of Public Works, Facilities and Parks (PWFP) and/or their respective designees to facilitate escrow for the subject property.
Report
RECOMMENDATION:
It is recommended the Board of Supervisors
a) Ratify Natividad Medical Center (NMC) Chief Executive Officer's (CEO) exercise of a Right of First Refusal (ROFR) dated March 5, 2024, to purchase Valle Verde Medical Condominium Complex, 1326 Natividad Road, Suite C, also known as Unit A-3, Salinas, California 93906 (subject property) for $65,000 cash; and
b) Authorize NMC CEO to sign "Disclosure Regarding Real Estate Agency Relationship" dated March 29, 2024 and "Commercial Purchase Agreement and Joint Escrow Instructions" dated March24, 2024 (Purchase Agreement) for the subject property, subject to due diligence and inspections by County of Monterey (County), and acceptance of Sellers' counteroffer to extend timeline for Sellers to respond to County's Purchase Offer; and
c) Authorize CEO of NMC and the Director of Public Works, Facilities and Parks (PWFP) and/or their respective designees to facilitate escrow for the subject property.
SUMMARY/DISCUSSION:
The Valle Verde Condominium Medical Complex ("Complex"), a set of medical office condomi...
Click here for full text