Reso 2022-086 2nd amendment to DDA

Home

IN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO RESOLUTION NO.2022-086 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LEANDRO APPROVING AND AUTHORIZING EXECUTION OF A SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENT AND DISPOSITION AND DEVELOPMENT AGREEMENT WITH CAL COAST COMPANIES LLC, INC. AND MAKING FINDINGS RELATED THERETO WHEREAS, the City of San Leandro and Cal Coast Companies LLC, Inc. ("Developer") have entered into a Disposition and Development Agreement with respect to certain City owned property located within the Shoreline -Marina area of the City (the "Shoreline Property"), dated as of July 22, 2020, as amended by the First Amendment to Purchase and Sale Agreement and Disposition and Development Agreement dated as of March 17, 2021 (as amended, the "DDA"); and WHEREAS, the DDA provides for City to convey fee title and leasehold interests to Developer in the Shoreline Property, through a Purchase and Sale Agreement for land to be used for the construction of detached and attached single-family homes and attached townhomes ("Single Family PSA"), and four Ground Leases for the lease of land to be used for the construction and operation of a hotel ("Developer Hotel Ground Lease"), a market -rate multifamily residential development ("Multifamily Ground Lease"), a restaurant and banquet facility ("Developer Restaurant Ground Lease"), and a market or other neighborhood serving retail or service facility ("Market Ground Lease") (collectively, the "Ground Leases"); and WHEREAS, the Single Family PSA provides for certain conditions to be satisfied prior to the close of escrow for the Single Family PSA, and the DDA provides for certain conditions to be satisfied prior to the commencement of each of the Ground Leases; and WHEREAS, the DDA provides that the close of escrow for the Single Family PSA and the commencement of each of the Ground Leases will all occur prior to December 15, 2022, and City and Developer now desire to enter into a Second Amendment to Purchase and Sale Agreement and Disposition and Development Agreement (the "Second Amendment") to provide for certain changes to the conditions precedent to the close of escrow for the Single Family PSA and the commencement of the Ground Leases, and to make corresponding changes to the DDA Schedule of Performance and Scope of Development, to facilitate the close of escrow for the Single Family PSA and the commencement of the Ground Leases prior to December 15, 2022; and WHEREAS, the Surplus Land Act, Government Code Section 54220, et seq., as amended by Assembly Bill 1486 effective January 1, 2020, provides that local public agencies must determine whether land owned by the public agency is "surplus land" or "exempt surplus land," and must send notices of the availability of surplus land to specified parties prior to the conveyance of such land; and RESOLUTION NO. 2022-086