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DISPOSITION AND DEVELOPMENT AGREEMENT <br /> • <br /> THIS DISPOSITION AND DEVELOPMENT AGREEMENT (this "Agreement "), <br /> dated as of Ma (di 7 , 2011 ( "Effective Date "), is entered into by and between the City <br /> of San Leandro, a municipal corporation ( "City "), and the Redevelopment Agency of the City <br /> of San Leandro, a public body, corporate and politic ( "Agency "). Agency and City are <br /> hereinafter collectively referred to as the "Parties." <br /> RECITALS <br /> • <br /> WHEREAS, pursuant to authority granted under Community Redevelopment Law <br /> (California Health and Safety Code Section 33000 et seq.) ( "CRL "), the Agency has <br /> responsibility to implement the redevelopment plan for the West San Leandro - MacArthur <br /> Boulevard Redevelopment Project adopted pursuant to Ordinance No. 99 -025 on July 19, 1999 <br /> (as subsequently amended, hereafter the "West San Leandro Redevelopment Plan "), the <br /> redevelopment plan for the Alameda County - City of San Leandro Redevelopment Project Area <br /> adopted pursuant to Ordinance No. 93 -012 on July 11, 1993 (as subsequently amended, <br /> hereafter the "Joint Redevelopment Plan "), and the redevelopment plan for the Plaza <br /> Redevelopment Project adopted pursuant to Ordinance No. 1295 N.S. on December 28, 1960 <br /> (as subsequently amended, hereafter the "Plaza Redevelopment Plan "). The West -San <br /> Leandro- MacArthur'Boulevard Redevelopment Project, the Alameda County-City of San <br /> Leandro Redevelopment Project and the Plaza Redevelopment Project are hereinafter <br /> collectively referred to as the "Project Areas." The West San Leandro Redevelopment Plan, <br /> the Joint Redevelopment Plan and the Plaza Redevelopment Plan are hereinafter collectively <br /> referred to as the "Redevelopment Plans"; <br /> WHEREAS, the Agency owns certain real property located in the Project Areas and <br /> more particularly described in Exhibit A attached hereto and incorporated herein (the <br /> `Property "); <br /> WHEREAS, the Agency seeks development of the Property consistent with the <br /> Redevelopment Plans; <br /> WHEREAS, pursuant to CRL Section 33205, the Agency is authorized to delegate to <br /> the City any of the powers or functions of the Agency with respect to the undertaking of a <br /> redevelopment project, and the City is authorized to carry out and perform such powers and <br /> functions; <br /> WHEREAS, pursuant to CRL Sections 33220 and 33437, the City is authorized to (i) <br /> acquire land from the Agency, (ii) become obligated to use the acquired property for the <br /> purposes specified in the Redevelopment Plans, and (iii) comply with the covenants, conditions <br /> and restrictions imposed by the Agency in conjunction with the sale in order to prevent <br /> speculation and carry out the purposes of the CRL and the Redevelopment Plans; <br /> 1604875.2 1 <br />