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Minutes -City of San Leandro City Council and Page 11 San Leandro Redevelopment Agency Joint Meeting -December 6, 1999 8. NEW BUSINESS A. Matter of Approval of a Revised Design for the Proposed Davis`Street Community Center and Agreement of Purchase and Sale for the Property Located at 1221 Pacific Avenue; Assessor's Parcel Number 75-0120-007- (provides for Agency purchase of a portion of the property at 1221 Pacific Avenue for a purchase price of $23,350 and additional consideration of $35,000. as required for the implementation of the Disposition and Development Agreement with the Davis Street Community Center; and provides for approval of redesign of the rear building wall for Davis Street Community Center at 1103 Davis Street). Cost: X23,350 [SERA Funds and $35,000 ($25,000 SERA grant for facade, site, and building improvements and $10,000 in CDBG Funds for architectural design improvements). -- Resolution No. 99-36, Resolution of the San Leandro Redevelopment Agency of the City of San Leandro Approving the Purchase and Sale Agreement Between the East Bay Baptist Association and the San Leandro Redevelopment Agency for a Portion of the Property Located at 1221 Pacific Avenue; Assessor's Parcel Number 75-0120-007-~2 " .~ M/S/C Lothrop and Loeffler. Ayes: 6; Noes: 0; Absent: Glaze B. Resolution Approving a Loan Agreement Between the City of San Leandro and Citizens Housing Corporation for the use of HOME Funds for Acquisition of a 91- Unit Apartment Building and Authorizing the City Manager to Execute the Necessary Documents to Loan the HOME Funds to Citizens Housing Corporation for 15370 Tropic Court; Assessor's Parcel Number 412-0006-006-02 (provides for a loan of HOME Funds in the amount of $1,050,000 for acquisition of a 91- unit apartment complex at 15370 Tropic Court). Cost: $1,050,000 (HOME Funds) Debbie Potter, Redevelopment Administrator, gave the staff report. In response to Vice Mayor Galvan, Assistant City Attorney Randolph indicated the Council previously took action in May to approve $750,000 in HOME Funds for this project, with direction for the City Manager to execute the necessary documents. She indicated the developer had moved forward, based upon that approval, with acquisition of the property; and escrow on the property is slated to close on December 10, 1999. She concluded by stating it is unclear whether erroneous information was given at the time the City Council approved the $750,000, so she does not think the City Council can rescind their prior action.