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WHEREAS, BEAM Development, LLC. submitted a proposal to the Successor Agency <br />offering to pay the Successor Agency Two Million One Hundred Thousand Dollars ($2,100,000) <br />for the Properties and the City Property ("Purchase Price"); and <br />WHEREAS, Successor Agency staff has 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; <br />NOW, THEREFORE, the Oversight Board of the Successor Agency to the <br />Redevelopment Agency of the City of San Leandro hereby resolves as follows: <br />I. The Oversight Board to the Successor Agency of the Redevelopment Agency of <br />the City of San Leandro approves the sale by the Successor Agency to BEAM Development <br />LLC., identified in the Long Range Property Management Plan, is hereby approved; and <br />2. The Executive Director and his designees are authorized and directed to execute <br />all documents and take all actions necessary to implement this Resolution, including without <br />limitation the execution of quitclaim deeds, certificates of acceptance, and all other necessary <br />instruments, as applicable. <br />PASSED AND ADOPTED AT A REGULAR MEETING OF THE OVERSIGHT BOARD FOR <br />THE SUCCESSOR AGENCY TO 2017 BY THE FOLLOWING VOTE: <br />AYES: Gin, Grant, Jermanis, Mack -Rose, Penaranda <br />NOES: <br />ABSTAIN: <br />ABSENT: Chan, Williams <br />Rly M 0 IRM <br />Katie Bowman, Secretary <br />N <br />ice Chair <br />Surlene Grant, V <br />