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City of San Leandro <br />Meeting Date: December 1, 2014 <br />Staff Report <br />Agenda Section:File Number:14-492 CONSENT CALENDAR <br />Agenda Number:8.G. <br />TO:City Council <br />FROM:Chris Zapata <br />City Manager <br />BY:Uchenna Udemezue <br />Engineering & Transportation Director <br />FINANCE REVIEW:David Baum <br />Finance Director <br />TITLE:Staff Report for a Resolution Authorizing the City Manager, by Order of the <br />City Council Pursuant to San Leandro Municipal Code section 1-6-105, to <br />Purchase 777 Alvarado Street (APN 075 0155 009 00) and to Appropriate <br />$300,000 from General Fund Reserves for the Purchase <br />SUMMARY AND RECOMMENDATIONS <br />Staff recommends that the City Council adopt the Resolution that, by its own order, authorizes <br />the City Manager to purchase the property located at 777 Alvarado Street from the Oliver <br />Partnership and to appropriate $300,000 from General Fund Reserves for said purchase. <br />BACKGROUND <br />In July 2000, the City of San Leandro’s Redevelopment Agency (Agency) entered into a <br />Disposition and Development Agreement with Creekside Association for the Agency owned <br />properties at San Leandro Boulevard and Davis Street, now home of Creekside Office Plaza. <br />The original project envisioned an environmental education center on one of the parcels to be <br />operated by Friends of San Leandro Creek. During the negotiation process, the office park <br />development expanded to include all available parcels. The Developer was required as part <br />of the Disposition and Development Agreement to construct and maintain a creekwalk as part <br />of the project. An alternative site, 777 Alvarado Street was identified for the environmental <br />education center. <br />On May 1, 2001, Friends of San Leandro Creek entered into a Lease Agreement with the <br />Oliver Partnership for 777 Alvarado Street. The lease included in the recitals section a <br />guarantee from the City of San Leandro and the Redevelopment Agency for performance of <br />the tenant. The terms of the agreement follow: <br />·20-year lease (May 1, 2003 - April 30, 2023) <br />·$2,000/month lease payment, adjusted annually by the CPI, plus property taxes <br />·Option to purchase on May 1, 2013 at fair market value <br />Page 1 City of San Leandro Printed on 11/25/2014