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City of San Leandro <br />Meeting Date: February 16, 2016 <br />Resolution - Council <br />Agenda Section:File Number:16-046 ACTION ITEMS <br />Agenda Number: <br />TO:City Council <br />FROM:Chris Zapata <br />City Manager <br />BY:Cynthia Battenberg <br />Community Development Director <br />FINANCE REVIEW:Not Applicable <br />TITLE:RESOLUTION Authorizing the City Manager to Execute a Purchase and Sale <br />Agreement with Sansome Pacific Properties, Inc. for Sale of the City-Owned <br />Parking Lot at 1188 East 14th Street (APN 077-0447-007-01) at a Price of <br />$1.29 Million <br />WHEREAS, the City of San Leandro wishes to facilitate private development of the <br />opportunity site located at the northeast corner of East 14th Street and Callan Avenue (the <br />“Project Site”); and <br />WHEREAS, the City of San Leandro and CVS Health jointly made two properties <br />located at the Project Site available for sale to a developer and marketed the Project Site <br />publicly; and <br />WHEREAS, Sansome Pacific Properties, Inc. submitted an offer to purchase the two <br />properties from CVS Health and the City of San Leandro; and <br />WHEREAS, City staff has determined that Sansome Pacific Properties, Inc. possesses <br />the resources and experience necessary to complete a successful development at the Project <br />Site consistent with the vision established in the Downtown San Leandro Transit-Oriented <br />Development Strategy; and <br />WHEREAS, the City of San Leandro commissioned an appraisal of the City-owned <br />Parking Lot which determined the market value of the parcel to be $1,280,000; and <br />WHEREAS, the City of San Leandro and Sansome Pacific Properties, Inc. have <br />negotiated a purchase price for the City-owned parking lot of $1,290,000; and <br />WHEREAS, Sansome Pacific Properties, Inc. also intends to execute a Purchase and <br />Sale Agreement with CVS Health to acquire the adjacent parcel that comprises the remainder <br />of the Project Site; and <br />Page 1 City of San Leandro Printed on 2/10/2016