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<br />CITY OF SAN LEANDRO <br />REDEVELOPMENT AGENCY <br />STAFF REPORT <br /> <br />APPROVED AND <br />FOR WARDED TO THE <br />REDEVELOPMENT AGENCY <br /> <br />TO: <br /> <br />John 1. Jcrmanis, Executive Direetor <br /> <br /> <br />DATE: <br /> <br />December 18,2006 <br /> <br />FROM: <br /> <br />Luke Sims, Business Development Manager <br />Office of Business Development <br /> <br />BY: <br /> <br />Ryan Evans, Development Planner <br />011ice of Business Development <br /> <br />SUBJECT: <br /> <br />RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN <br />LEANDRO APPROVING AN OWNER PARTICIPATION AGREEMENT (OPA) <br />BETWEEN THE SAN LEANDRO REDEVELOPMENT AGENCY AND JOHN AND <br />MUSA FRANCISCO, OWNERS OF VILA CEREJA RESTAURANT, FOR THE <br />DEVELOPMENT Of PROPERTY LOCATED IN THE WEST SAN LEANDRO/MAC <br />ARTHUR BOULEVARD REDEVELOPMENT PROJECT AREA AT 1041-1045-1051 <br />MAC ARTHUR BOULEVARD (APN'S 076-0350-007-01 AND 076-0350-008-00) <br /> <br />SUMMARY AND RECOMMENDATION <br /> <br />Stair recommends that the Agency adopt a resolution approving the Owner Participation <br />Agreement (the "OP A") between the Redevelopment Agency and John "Jake" and Musa <br />Francisco, Owner Participants, for the dcvelopment of property locatcd within the West <br />San Leandro/MacArthur Boulevard Redevelopment Project Area and directing the <br />Executive Director to execute said OP A and appropriate funds in the amount up to <br />$350,000 from the West San Leandro/MacArthur Boulevard Redevelopment Project Area <br />fund balance. <br /> <br />BACKGROUND <br /> <br />Analvsis <br /> <br />The Vila Cereja restaurant is located in San Leandro at 1041-1051 MacArthur Boulevard. <br />Formerly known as "The Lion", Vila Cereja has been operating under the same <br />ownership for 40 years. Vila Cereja has long been one of the premier restaurant and <br />banquet facilities in San Leandro, and serves as an anchor to the MacArthur Business <br />District. In 2005, responding to the changing demographics of the surrounding <br />