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MINUTES Page 11 City of San Leandro City Conncil and San Leandro Redevelopment Agency Joint Meeting-September 6, 2005 Mr. Jermanis noted that City staff shares some of the same concerns voiced by Councilmernber Grant. Some of the issues will be addressed by the Conditions of Approval, and the conditions of the 1992 EIR are still applicable. Mr. Horn agreed that multiple owners can make it more difficult to reach agreement. He indicated that an agreement between the property owners for some of the critical access improvements is being finalized. Mr. Jermanis commented that multiple ownership of a shopping center is a fairly common practice and is a way to infuse capital into the project. Mayor Young asked if Madison Marquette has any intention of selling any of the other parcels. John Gooding, Madison Marquette, addressed the City Council, expressing appreciation for the City's long-term efforts on this issue. He commented on the challenges faced by Madison Marquette in the development of Bay Fair Mall. Mr. Gooding indicated that Madison Marquette does not intend to sell parcels 1 and 3, and its commitment is long-term. He commented that Target has sold several of its properties and needs to invest the money back in property. Mr. Gooding noted that it is in both the City's and Madison Marquette's interests to have Target invest in Bay Fair. Mayor Young expressed concern regarding the compatibility of the future uses of the property. Councilmember Santos commented that this change will be beneficial to both Madison Marquette and the City. Councilmember Grant stated that she has serious concerns about this change; however, she does not want to halt the progress of Bay Fair Center. M/S/C Grant and Santos. Ayes: 7; Noes: 0 10. ACTION ITEMS Public comments are limited to 3 minutes per speaker per item, subject to adjustment by the Mayor. A. Matter of an Exclusive Negotiating Rights Agreement (ENRA) Between the San Leandro Redevelopment Agency and Mercy Housing California for Property to Be Purchased by Agency at 2398 East 14th Street (APN 077E-1525-003-04) (provides for a development plan to convert the Islander Lodge Motel into affordable housing). City Manager Jermanis gave background on the matter and introduced Housing and CDBG Manager Tom Liao. Mr. Liao gave a short PowerPoint presentation providing information on the proposed agreements with Mercy Housing California for conversion of the Islander Motel into affordable housing.