RDA Reso 2000-005 - Laserfiche WebLink

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II�DESCRIPTION:O EXIST INGENVIRONS The Site on which the Project will be constructed is on the western edge of the downtown district of San Leandro, on the northeast corner of San Leandro Boulevard and Davis Street, in the City of San Leandro Plaza 2 Redevelopment Project Area. The neighborhood of the Site consists primarily of a mix of residential and commercial uses. The Site is a large vacant and underutilized parcel bounded on. the north side by the San Leandro Creek. Efforts over a number of years to achieve a high quality commercial development of the Site have failed. The existence of this large vacant parcel has contributed to blight in the Project Area. The Site enjoys good visibility from both San Leandro Boulevard and Davis Street. Access to the Site is good, as both San Leandro Boulevard and Davis Street are major thoroughfares in San Leandro. In addition, the San Leandro BART station is located on the southwest corner of the same intersection as the Site. The Redevelopment Agency has determined that the Site is ideal for a multi -story, Class A office complex. The Minimum Project will assist in the removal of blight by creating an attractive office development and by providing visual improvement to this area of the City. The Minimum Project will create a creekside open space unique in the East Bay. The Minimum Project will increase employment, both during the construction phase and thereafter. The Minimum Project also will increase the real property tax base for the City. It is hoped that the Minimum Project will stimulate further investment in the Downtown Area. Thus, the Agency is entering into this agreement for less than the highest and best use in order to achieve its objectives of removing blight, stimulating private investment and reinforcing its existing commercial centers. LO Keyser Marston Associates, Inc. 19096.001\002-002.doc Page 7