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Board approves Vacavilleassignment of sublease and option for 551 Davis St.
Summary
The oversight board voted 6-0 to approve transferring the successor-agencysublease, option to purchase and first-refusal rights for a portion of 551 Davis Street to the City of Vacaville, removing the line from future ROPS obligations.
Tamara Colton, director of Housing and Community Services for the City of Vacaville, asked the board to approve an amendment and assignment that moves the successor-agency's sublease and option-to-purchase rights for roughly one-third of 551 Davis Street to the city.
Colton said the city has operated programs in that portion of the building since 2002 and has paid more than $4 million in lease payments plus nearly $2 million in maintenance and other costs. If approved, the assignment transfers all obligations and rights related to that sublease to Vacaville and removes the associated line item from the successor agency's Recognized Obligation Payment Schedule (ROPS). The board approved the resolution by roll call, 6-0.
The approval will allow Vacaville to continue operating the programs at that portion of the center and eliminates item 33 from future ROPS entries once the transfer is finalized.
