RDA Agmt 2000 Creekside Associates LLC

Home

DISPOSITION AND DEVELOPMENT AGREEMENT This DISPOSITION AND DEVELOPMENT AGREEMENT is made on or as of this 22nd day of February, 2000, by and between the REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO (hereinafter "Agency") and CREEKSIDE ASSOCIATES, LLC, a California limited liability company (the 'Developer"). RECITALS 1. Pursuant to its authority granted under California law, the Agency has the responsibility to carry out the Plaza 2 Redevelopment Plan, which was approved and adopted in December, 1967 by the City Council of the City of San Leandro by Ordinance No. 67-62 and subsequently amended. Said redevelopment plan as described, and as thereafter from time to time amended, is referred to herein as the 'Redevelopment Plan" and is incorporated into this Agreement by reference. 2. In furtherance of the Redevelopment Plan, the Agency selected Developer to develop an upscale office complex with amenities on certain real property located at 960 San Leandro Boulevard (the "Property") within the City of San Leandro (the "City") and more particularly described on the attached Exhibit A incorporated herein by reference. In addition, the Developer shall install and shall thereafter maintain over the life of the Redevelopment Plan certain improvements (the "Adjacent City Property Improvements") to certain property generally adjacent to the Property (the "Adjacent City Property") all as more particularly provided herein. The Developer has submitted a development concept plan (the "Development Concept Plan") for the development of the Property, including certain amenities to adjacent city property along the creek, which Development Concept plan is attached as Exhibit B and incorporated herein by reference. It is contemplated that the Development Concept Plan will be revised and refined into the Final Development Plan in accordance with Section 1.03 below. Agency approval shall be required for every aspect of architectural design, including but not limited to, site development, signage, and creek enhancements in accordance with Section 1.03 below. 3. The purposes of this Agreement are to provide a mechanism whereby the Developer shall acquire, own, and develop the Property and develop and maintain landscaping and related features on the Adjacent City Property in accordance with this Agreement and to effectuate the provisions of the Redevelopment Plan. The development of the Property contemplated by this Agreement is consistent with the Redevelopment Plan, the Five Year Implementation Plan, and the City of San Leandro General Plan. 4. The Developer has represented that the Developer and its principals have the necessary expertise, skill and ability to carry out the commitments herein contained and that this Agreement is in the best interests and will materially contribute to the Redevelopment Plan. DEFINITIONS The following definitions relate to such terms found in the entire Agreement, including, without limitation, all Exhibits hereto. "Adjacent City Property" means that certain property owned by the City which is situated DOCS00701700v6\24258.0001 1 2 4