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FINANCE AND ADMINISTRATION
COMMITTEE |
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ITEM: |
ACTION
ITEM |
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7. |
Approve
Expenditure to Corporation Service Company - Recording Fees |
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Meeting
Date: |
June 12, 2023 |
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: |
$50,000 (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 12, 2023, 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 100 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
$50,000 of budgeted funds for document recording during Fiscal Year
2023-2024.
RECOMMENDATION: The Finance and Administration Committee should
recommend that the Board approve the expenditure of $50,000 for recording fees
for Fiscal Year 2023-2024.
IMPACT
TO STAFF/RESOURCES: Funds for
this expenditure are included in the Fiscal Year 2023-2024 budget.
EXHIBITS
None
U:\staff\Board_Committees\FAC
prev Admin\2023\20230612\07\Item-7.docx