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IN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO RESOLUTION NO. 2004-073 (1485/1556) RESOLUTION AUTHORIZING THE FINANCE DIRECTOR TO SIGN A DEED OF RECONVEYANCE GRANTING, RELEASING, AND CONVEYING UNTO THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO ALL INTEREST IN THE 1103 DAMS STREET PROPERTY WHEREAS, on January 18, 2000, the City Council adopted Resolution No. 2000-3 approving a Regulatory Agreement, a Deed of Trust and a Promissory Note between the City and the Davis Street Community Center for a loan for the purchase of property at 1103 Davis Street from the San Leandro Redevelopment Agency, which property was to be used for construction of a service center; and WHEREAS, the Davis Street Community Center constructed the service center at another location and quitclaimed said property back to the Redevelopment Agency in January 2003; and WHEREAS, in 2003 the property was appraised at $520,000 as the market value for use as multifamily housing, the highest and best use in the opinion of the appraiser; WHEREAS, as required in the United States Code of Federal Regulations 24 Part 570.505 (b), the Redevelopment Agency has repaid the Community Development Block Grant Fund the fair market value of the property at $520,000; NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: That the City Council of the City of San Leandro hereby authorizes the Finance Director to sign a Deed of Reconveyance granting, releasing, and conveying all interest derived by the City in the property at 1103 Davis Street to the Redevelopment Agency of the City of San Leandro.