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that your Council take this action directly in conjunction with a <br />noticed public hearing. Attached is a copy of the letter from <br />the County Assessor's Office certifying the cancellation value of <br />the property. <br />Staff Recommendation <br />Staff recommends your Council: <br />1. Rescind Resolution No. 86-482, your approval action of <br />October 7, 1986; <br />2. Make the appropriate findings as described in the staff <br />report to your Council, dated October 7, 1986; <br />3. Determine the cancellation value of the property as $241,600 <br />and certify to the County Auditor the cancellation fee of <br />$30,200, based upon the amount equal to 12.5% of the <br />cancellation value, as provided for in Section 51283 of the <br />Government Code; <br />4. Approve the request for tentative cancellations subject to <br />the following conditions and contingencies; <br />a. That the applicant shall pay in full any cancellation <br />fee and deferred taxes as computed under provisions of <br />Sections 51283 and 51283.1, and unless the fee is paid <br />or a Certificate of Cancellation of the Agreement is <br />issued within one year from date of recording the <br />Tentative Certificate of Cancellation such fees shall be <br />recomputed as required by Section 51283.4., <br />b. That the applicant shall obtain all permits necessary to <br />commence the project; <br />5. Direct the City Clerk to record the Certificate of Tentative <br />Cancellation setting forth the name of the land owner <br />requesting cancellation, the fact that Certificate of <br />Cancellation of Contract will be issued and recorded at such <br />time as such specified conditions and contingencies are <br />satisfied, a description of the conditions and contingencies <br />which must be satisfied, and legal description of the <br />property. <br />SR86:501 <br />