City Council

19. Approval of Purchase and Sale Agreement between the City of Chino and Chino Development\nCorporation for the Bon View Well site. Purchase & Sale Agreement between the City of Chino\nand Chino Development Corporation for the Bon View Well Site located at the northeast corner\nof Bon View and Schaefer Avenues in the City of Ontario.\nStaff Report By: Sylvia Ramos, Associate Engineer\nRECOMMENDATION: 1) Appropriate $230,300 from the unappropriated reserves of the Water\nFund and schedule a corresponding year-end transfer in the same amount from The Preserve\nWater Source, Storage & Distribution Facilities Development Impact Fee Fund 261; 2) approve\nthe Purchase and Sale Agreement between the City of Chino and Chino Development\nCorporation, a California corporation for the purchase of the Bon View Well Site located at the\nnortheast corner of Bon View and Schaefer Avenues in the City of Ontario; 3) authorize a\npayment to Fidelity National Title Company in the amount of $150,000 for the purchase of the\nBon View Well site and authorize up to $7,500 for associated escrow costs; 4) approve an\nimmediate reimbursement to Chino Development Corporation per the terms of the amended\nand restated Preserve Development Agreement for improvements associated with the Eastside\nWater Treatment Facility in the amount of $72,800; and 5) authorize the City Manager to\nexecute all of the necessary documents of behalf of the City.