RDA Reso 2008-023 - Laserfiche WebLink

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1N THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO RESOLUTION N0.2008-023 RDA (1373) RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO AUTHORIZING THE EXECUTIVE DIRECTOR TO ENTER INTO A LEASE WITH OPTION TO PURCHASE AGREEMENT WITH THE SAN LEANDRO CHAMBER OF COMMERCE FOR ACQUISITION OF 262 DAVIS STREET (APN: 075-0001-008-02) WHEREAS the Executive Director has negotiated a Lease with Option to Purchase Agreement between the Redevelopment Agency of the City of San Leandro and the San Leandro Chamber of Commerce, a copy of which is attached hereto and incorporated herein by reference. WHEREAS, terms of the Lease with Option to Purchase Agreement provide for an initial three year lease of the property, with provision for a two year option to extend, at $2,900 per month, some miscellaneous moving costs, and a maximum purchase price of $700,000 for the acquisition of the property, building, and business at 262 Davis Street (collectively, the "Property") within the Plaza. Project Area; and WHEREAS, the Lease with Option to Purchase Agreement provides that in lieu of accepting cash for the purchase price, the Chamber of Commerce may elect to exchange the Property for an office condominium in the proposed Callan Garage; and WHEREAS the acquisition of Property is an authorized activity of the Redevelopment Agency in the Plaza Redevelopment Plan, and payment of lease rates, acquisition costs and associated fees is an authorized use of redevelopment funds; and WHEREAS the Agency Board is familiar with the Lease with Option to Purchase Agreement and the Property in question and the Executive Director has recommended approval of said Lease with Option to Purchase Agreement. NOW, THEREFORE, the Redevelopment Agency of the City of San Leandro does RESOLVE as follows: The Agency hereby approves the Lease with Option to Purchase and authorizes the Executive Director of the Agency (or his designee) to: (i) execute the Lease with Option to Purchase substantially in the form on file with the Agency Secretary; (ii) subject to approval of Agency Counsel, to make revisions to the Lease with Option to Purchase which do not materially or substantially increase the Agency's obligations thereunder; and (iii) to sign all documents and take all actions necessary or appropriate to carry out and implement the intent of this Resolution, and That the appropriation of not to exceed EIGHT HiJNDRED NINETY FOUR THOUSAND AND NO/100 DOLLARS ($894,000.00) from the Plaza Project Area fund balance to implement the terms of the Lease with Option to Purchase Agreement, as needed, is hereby approved.