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IN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO <br /> RESOLUTION NO. 2012 -007 SA <br /> RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LEANDRO ACTING IN <br /> ITS CAPACITY AS SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF <br /> THE CITY OF SAN LEANDRO AUTHORIZING THE CITY MANAGER TO EXECUTE A <br /> DISPOSITION AND DEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF <br /> SAN LEANDRO, IN ITS CAPACITY AS THE SUCCESSOR AGENCY TO THE SAN <br /> LEANDRO REDEVELOPMENT AGENCY, AND INNISFREE VENTURES II, LLC FOR THE <br /> SALE AND DEVELOPMENT OF 1550 EAST 14 STREET (APN 077 0540 009) <br /> WHEREAS, staff to the Successor Agency has negotiated and prepared a draft Disposition <br /> and Development Agreement (the "Agreement ") pursuant to which the property known as 1550 <br /> Fast 14' Street (APN 077 0540 009) (the "Property ") would be conveyed to Innisfree Ventures II, <br /> LLC for construction of a retail development that includes specified public amenities; and <br /> WHEREAS, pursuant to Assembly Bill xl 26, the disposition of the Property is subject to <br /> the approval of the Successor Agency Oversight Board; and <br /> WHEREAS, pursuant to California Health and Safety Code Section 34177(e), the <br /> proceeds of the sale of property owned by the Successor Agency must be provided to the County <br /> Auditor - Controller for distribution to the taxing entities if such proceeds are not needed for <br /> approved development projects or to otherwise wind down the affairs of the former San Leandro <br /> Redevelopment Agency, each as determined by the Oversight Board. <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of San Leandro <br /> acting in its capacity as the governing board of the Successor Agency to the San Leandro <br /> Redevelopment Agency, as follows: <br /> 1. Subject to approval by the Oversight Board, the City Manager, acting in his <br /> capacity as Executive Director of the Successor Agency is authorized to execute the Agreement <br /> substantially in the form presented, with such modifications as may be approved by the City <br /> Manager in consultation with the City Attorney. <br /> 2. The City Manager is authorized to execute such other instruments and to take such <br /> other actions necessary to carry out the intent of this Resolution and to implement the terms of the <br /> Agreement. <br /> * * * ** <br />