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4. An explanation of why the sale or lease of the property will assist in the elimination <br />of blight, as required by Section 33433; and <br />5. The purchase price or sum of the lease payments, which the lessor will be required <br />to make during the term of the lease. If the sale price or total rental amount is less <br />than the fair market value of the interest to be conveyed or leased, determined at <br />the highest and best use consistent with the redevelopment plan, then the agency <br />shall provide as part of the summary an explanation of the reasons for the <br />difference. <br />This report outlines the salient parts of the proposed Disposition and Development Agreement <br />("Agreement") by and between the City of San Leandro Redevelopment Agency ("Agency") and <br />The Batarse Family Trust, U.T.A, Anthony A. Batarse, Trustee ("Developer"), which requires the <br />Developer to redevelop the subject property ("Site") for an automobile dealership. The purpose of <br />this analysis is to determine the cost of the Agreement to the Agency. <br />This report is based upon information in the proposed Agreement, draft dated September 5, 2001, <br />and is organized into the following six sections: <br />Summary of the Proposed Agreement -This section includes a description of <br />the Property, the proposed project and the major responsibilities of the Agency and <br />the Developer. <br />2. Cost of the Agreement to the Agency -This section outlines the cost of the <br />Agreement to the Agency. It presents the terms of the land conveyance to the <br />Developer by the Agency, and sets forth the net cost of the Agreement of the <br />Agency. <br />3. Estimated Value of the Interest to be Conveyed -This section summarizes the <br />value of the property to be conveyed to the Developer. <br />4. Consideration Received and Reasons Therefor -This section describes the <br />purchase or lease price to be paid by the Developer to the Agency. It also contains <br />a comparison of the price and the fair market value at the highest and best use <br />consistent with the redevelopment plan for the interests conveyed. <br />5. Elimination of Blight -This section includes an explanation of why the sale or <br />lease of the property will assist in the elimination of blight and the supporting facts <br />and materials. <br />6. Conformance with AB 1290 Implementation Plan -This section describes how <br />the Agreement is in conformance with the Agency's Implementation Plan. <br />Conley Consulting Group Page 2 of 12 <br />9-9 Batarse Site 33433 10300.002 v5 September, 2001 <br />