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File Number: 17-344 Management Plan. Following the execution of the agreement, David Langon Construction will begin its due diligence period, during which it will perform additional investigation into the property and further planning for its redevelopment. Project review will likely involve major site plan review, which will evaluate elevations, floor plans, exterior materials, landscaping details and engineering plans. The proposed use is permitted by right so no additional planning entitlements are anticipated. Previous Actions ·On November 2, 2015, the Successor Agency approved the Long Range Property Management Plan, establishing a plan for transferring or selling the real property assets that were owned by the Redevelopment Agency. ·On December 24, 2015, the Oversight Board to the Successor Agency approved a Resolution confirming the obligation of the Successor Agency to the City of San Leandro to deliver proceeds from future disposition of the property at 268 Parrott Street to the City of San Leandro and making a finding that the agreement was made for legitimate redevelopment purposes. Environmental Review The requirement for environmental review will be determined as part of the entitlement process as plans for the site are further developed by the selected developer. Legal Analysis The Purchase and Sale Agreement with David Langon Construction, Inc. was reviewed by the City Attorney and approved as to form. Fiscal Impacts The sale of these Successor Agency-owned property will result in new, unrestricted revenue to the City’s General Fund once the transaction is completed. Proceeds from the sale of the two parcels will be allocated on a per-square-foot basis. Proceeds from the sale of 268 Parrott Street are owed to the City of San Leandro. Per the 2008 Conveyance Agreement, which transferred the property at 268 Parrott Street from the City of San Leandro to the Redevelopment Agency, “when the Agency disposes of the Property to another party, any and all funds the Agency derives from such disposition of the Property shall be paid to the City.” Proceeds from the sale of 1595 Washington Street will be remitted to the Alameda County Auditor-Controller for distribution to the local taxing entities, with the City of San Leandro receiving approximately 12%. The estimated revenue to the City of San Leandro will be approximately $540,000, less a broker’s commission and applicable closing costs. ATTACHMENTS Attachment to Staff Report ·Proposal by David Langon Construction, Inc. for purchase and development of 1595 Washington Avenue and 268 Parrott Street. Page 4 City of San Leandro Printed on 6/13/2017 339