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IN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO <br /> RESOLUTION NO. 2016-027 <br /> RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A PURCHASE AND <br /> SALE AGREEMENT WITH SANSOME PACIFIC PROPERTIES, INC. FOR SALE OF THE <br /> CITY-OWNED PARKING LOT AT 1188 EAST 14TH STREET(APN 077-0447-007-01) AT <br /> A PRICE OF $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 the <br /> resources and experience necessary to complete a successful development at the Project Site <br /> 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 Sale <br /> Agreement with CVS Health to acquire the adjacent parcel that comprises the remainder of the <br /> Project Site; and <br /> WHEREAS, a draft agreement between the City of San Leandro and Sansome Pacific <br /> Properties, Inc. has been presented to this City Council; and <br /> WHEREAS,the City Council is familiar with the contents thereof; and <br /> WHEREAS,the City Manager recommends approval of said agreement. <br /> NOW, THEREFORE, the City Council of the City of San Leandro does RESOLVE as <br /> follows: <br /> 1. The sale of the City property at 1188 East 14th Street is approved; and <br />