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IN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO RESOLUTION NO. 2001 - 157 (2888) A RESOLUTION OF THE CITY COUNCIL APPROVING THE REUSE REPORT REQUIRED BY HEALTH AND SAFETY CODE SECTION 33433 AND THE DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN LAVERY CALIFORNIA DEALERSHIP PROPERTIES N0.1, LLC AND THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO FOR THE DISPOSITION AND DEVELOPMENT OF A PORTION OF THE PROPERTY LOCATED AT 467 MARINA BOULEVARD (APN # 075-0087-003-02), 505 MARINA BOULEVARD (APN #075-0087-004-04) AND 517 MARINA BOULEVARD (APN #075-0087-004-06) RECITALS WHEREAS, the Agency has negotiated a Disposition and Development Agreement ("Agreement") between the Agency and Lavery California Dealership Properties No.1, L.L.C. ("Developer") to develop an automobile dealership at a portion of the property at 467, 505 and 517 Marina Boulevard, which will further the purposes of the Joint Alameda County/City of San Leandro Redevelopment Plan; and WHEREAS, the Agreement provides for the Agency to acquire the Property at 467, 505 and 517 Marina Boulevard, San Leandro and convey it a portion of it to Developer (the "Property") for consideration in the approximate amount of $3,857,000, which price is dependent upon the final square footage of the parcel to be conveyed; and WHEREAS, the Agreement provides that the Agency will sell the Property to the Developer at fair market value in a simultaneous escrow with the Agency's purchase of the Property and no tax increment funds will be used in the acquisition; and WHEREAS, the City of San Leandro shall fund the construction of public improvements in the form of an access road to the site and such access road is not required as a condition of the development and shall serve other parcels within the Project Area; and WHEREAS, although tax increment funds will not be used to purchase the Property, the Agency has nonetheless prepared a report pursuant to Health and Safety Code § 33433 ("Reuse Report") which contains a summary of the proposed Agreement to be entered into between the Agency and the Developer and a summary of the cost of the Agreement to the Agency; and WHEREAS, the summary of the cost of the Agreement includes: land acquisition costs, clearance costs, remediation costs, administrative costs, the estimated value of the interest to be conveyed determined at the highest and best uses permitted under the project plan, the estimated value of the interest to be conveyed determined at use with conditions, covenants, and development costs required by the sale; and an explanation of why the sale of the property will assist in the elimination of blight; and WHEREAS, the Agency has made the Reuse Report available for public inspection