FINANCE AND ADMINISTRATION
COMMITTEE |
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ITEM: |
ACTION
ITEM |
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7. |
CONSIDER
RECOMMENDATION TO AUTHORIZE A CONTRACT WITH Corporation Service Company -
Recording Fees |
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Meeting
Date: |
June 10, 2024 |
Budgeted: |
Yes |
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From: |
David J.
Stoldt, |
Program/ |
Recording Fees |
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General
Manager |
Line Item No.: |
26-05-781900 |
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Prepared
By: |
Stephanie Locke |
Cost
Estimate: |
$60,000 (partially reimbursed) |
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General Counsel Review: N/A |
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Committee Recommendation: The Finance and Administration Committee reviewed this item on June 10, 2024, and recommended _______________. |
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CEQA Compliance: This action does not constitute a project as
defined by the California Environmental Quality Act Guidelines Section 15378. |
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SUMMARY: The District records
approximately 150 documents each month with the County Recorder’s office with
average recording fees of $35. The documents are electronically recorded
through Corporation Service Company (CSC). Approximately 40 percent
of the recording fees are reimbursed by the applicant. Recorded
documents include deed restrictions related to access to water records and
limitations on use, Well Confirmation of Exemptions, Water Distribution System
Permits, and notices of non-compliance/compliance and removal.
CSC
requires immediate payment at the time a document is recorded. To
facilitate this, the District maintains a
deposit account that is regularly refilled to cover recording costs. Staff is
seeking approval of $60,000 of budgeted funds for document recording during
Fiscal Year 2024-2025.
RECOMMENDATION: The Finance and Administration Committee may
recommend that the Board approve the expenditure of $60,000 for recording fees
for Fiscal Year 2024-2025.
IMPACT
TO STAFF/RESOURCES: Funds for
this expenditure are included in the Fiscal Year 2024-2025 budget.
EXHIBIT
None
U:\staff\Board_Committees\FAC
prev Admin\2024\061024\Action Items\07\Item-7.docx