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II. SUMMARY OF THE PROPOSED AGREEMENT <br />A. Description of the Site and the Proposed Development <br />Site <br />The Site is comprised of real property ("Site") owned by the Agency, which will be conveyed to the <br />Developer for the construction of a first-class, high quality office complex. <br />The Site is identified as follows: <br />■ The former San Leandro Corporation Yard site at 960 San Leandro Boulevard, located on <br />the northeast corner of San Leandro Boulevard and Davis Street in San Leandro. The site is <br />bounded on the north by the San Leandro Creek. The gross land area is 338,339 sq.ft. <br />(7.767 acres). Approximately 89,544 sq.ft. (2.06 acres) will be retained by the City and <br />utilized as a creekwalk ("Adjacent Site"). The land area being conveyed is 248,795 sq.ft. <br />(5.71 acres). The parcel is currently vacant. <br />Developer <br />The Developer is the Creekside Associates, LLC, a California limited liability company. <br />Project <br />The Minimum Project (Phase 1) consists of a first-class, high quality office complex containing <br />130,000 sq.ft. of net rentable area (NRA) in two 3- and 4 -story, Class A office buildings plus <br />common areas. There will also be a restaurant of not less than 2,000 sq.ft. of NRA. There will be <br />surface parking for a minimum of 434 cars. The architectural features and building materials will <br />be of a higher quality than would typically be found in a standard office complex. The Developer <br />is also obligated to construct high quality site amenities, including an upgraded plaza with a <br />fountain at the corner of San Leandro Boulevard and Davis Street, extensive parking lot <br />landscaping, and a creekwalk on the Adjacent Site. The Minimum Project must conform to the <br />provisions and property development standards contained in the proposed Agreement. <br />A second phase ("Phase 2") containing 50,000 sq.ft. of net rentable office space could be built by <br />the Developer at a later date provided that a privately financed parking garage for 500+ cars is <br />constructed. However, only the Minimum Project, or Phase 1, development is a requirement of the <br />DDA. <br />Keyser Marston Associates, Inc. <br />19096.001\002-001.doc Page 3 <br />