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WHEREAS,the Successor Agency previously issued a public request for proposals(the <br /> "RFP") for the purchase and development of the Properties; and <br /> WHEREAS, the Successor Agency specified that as part of the RFP the Properties will <br /> only be sold concurrently with certain real property owned by the City of San Leandro (the "City") <br /> located at 262 Davis Street, San Leandro, California, also known as Alameda County Assessor's <br /> Parcel Number APN: 075-0001-009-02 (the "City Property"); and <br /> WHEREAS, BEAM Development, LLC. submitted a proposal to the Successor Agency <br /> offering to pay Two Million One Hundred Thousand Dollars ($2,100,000) for the purchase of the <br /> Properties and the City Property("Purchase Price"); and <br /> WHEREAS, Successor Agency staff determined that BEAM Development, LLC <br /> possesses the resources and experience necessary to complete a successful development at the <br /> Properties consistent with the Long Range Property Management Plan; and <br /> WHEREAS,the Successor Agency reviewed the sales price of comparable properties, as <br /> well as other responses to the RFP, and determined that the Purchase Price represents the fair <br /> market value of the Properties and the City Property; and <br /> WHEREAS,a Purchase and Sale Agreement(the "Agreement") has been presented to the <br /> Board of Directors of the Successor Agency of the Redevelopment Agency of the City of San <br /> Leandro ("Board of Directors"); and <br /> WHEREAS,the Board of Directors is familiar with the contents thereof, and <br /> WHEREAS,the City Manager, acting as the Executive Director of the Successor Agency, <br /> recommends approval of the Agreement. <br /> NOW,THEREFORE IT IS RESOLVED THAT: <br /> 1. Subject to approval by the Oversight Board to the Successor Agency of the <br /> Redevelopment Agency of the City of San Leandro and subject to the approval by the City Council <br /> of the Sale of the City Property,the sale of the Properties by the Successor Agency to BEAM <br /> Development, LLC is hereby approved; and <br /> 2. That the Agreement substantially in the form presented is hereby approved and <br /> execution by the Executive Director is hereby authorized; and <br /> 3. That the Executive Director is authorized to make non-substantial revisions to the <br /> RESOLUTION NO.2017-006 SA 2 <br />