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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 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 />1. 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 BAU Bay Area Urban <br />Development, LLC. Property, identified in the Long Range Property Management Plan, is <br />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, JERMANIS, MACK -ROSE, PENARANDA, CHAN <br />NOES: <br />ffflsr.'"O <br />ABSENT: GRANT, WILLIAMS <br />CyntWia Batten erg See 6 ry <br />N' <br />Supervisor Wilma Chan, Chair <br />