Subject: Settlement Agreement and Release of all claims pertaining to the interpleader action: In Re: 10505 Madrone Court, by which the City will recover $318,786.74 of the excess funds from the foreclosure sale of the property at that named address, which was previously included in the City’s below market rate housing program.

What this record is

Amount

$319K

Runs until

Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗

Type

contract

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Read automatically from the title of the official record. The source document below is authoritative.

Committee

City Council

Requested by

City Clerk's Office

Introduced

December 22, 2025

On agenda

January 21, 2026

Where it was heard

City Council Jan 21, 2026

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