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262 Davis Street -Page 3 of 3 - August 20, 2008 <br />Applicable General Plan Policy -Not Required <br />Permits and/or Variances Granted -Not Required <br />Environmental Review -Acquisition of this property is exempt from CEQA pursuant to Section <br />15061(b)(3) which applies to "projects where it can be seen with certainty that there is no <br />possibility that the activity in question may have a significant effect on the environment. The <br />potential development of the site was covered under the Downtown San Leandro TOD Strategy <br />at the Program EIR level. Specific development applications will be reviewed to determine if the <br />Program EIR adequately addressed potential impacts. <br />Code Compliance Review -Not Required <br />Board/Commission Findings -Not Required <br />Summary of Public Outreach Efforts -Not Applicable <br />Fiscal Impact -This action has no impact on the General Fund. <br />The Redevelopment Agency will budget $34,800 annually in FY 2009-10 and FY 2010-11 for <br />lease costs and $410,000 towards construction of the Estudillo/Callan Garage in FY 2011-12. <br />Should the lease be extended or the Garage not be built, the budget will be adjusted accordingly <br />up to the not to exceed total of $894,000. <br />Budget Authority <br />Funds not to exceed $894,000 as needed during the term of the agreement will be appropriated <br />from the Plaza Project Area fund balance for the Lease with Option to Purchase Agreement of <br />262 Davis Street. <br />~'---7 ~~-~ C~ ~-- - <br />Perry Carter, Interim Agency Treasurer <br />Attachment -None <br />CONCLUSION <br />Staff recommends approval of the attached resolution, authorizing the Executive Director to <br />execute the Lease with Option to Purchase Agreement with the San Leandro Chamber of <br />Commerce for acquisition of 262 Davis Street. <br />G:\DEPT\office of Business Development\Files RDA\Plaza\Town Hall Square\acquisition\262 Davis\Purchase&SaleAgreementCouncilMemo2- <br />4-08.doc <br />