Reso 2022-086 2nd amendment to DDA

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SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENT AND DISPOSITION AND DEVELOPMENT AGREEMENT THIS SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENT AND DISPOSITION AND DEVELOPMENT AGREEMENT (this "Second Amendment") is entered into as of June 21, 2022, by and between the City of San Leandro, a California charter city organized and existing under the laws of the State of California ("City"), and Cal Coast Companies LLC, Inc., a Delaware corporation doing business in California as Cal Coast Companies & Development ("Developer"). City and Developer are referred to individually as "Party," and collectively as the "Parties." RECITALS A. City and Developer have entered into a Disposition and Development Agreement for development of certain City owned property located within the City limits in the Shoreline - Marina area, dated as of July 22, 2020 (the "DDA"). In connection with the DDA, City and Developer have entered into a Purchase and Sale Agreement for development of between two hundred (200) and two hundred fifteen (215) for sale attached and detached single family homes on certain City -owned property to be sold to Developer, dated as of July 22, 2020 (the "Single Family PSA"). B. The DDA and Single Family PSA were amended by that certain First Amendment to Purchase and Sale Agreement and Disposition and Development Agreement dated as of March 17, 2021 (the "First Amendment"). The First Amendment added an additional Buyer Condition Precedent to closing under the Single Family PSA, that the Developer has approved the "Jurisdictional Determination" of the existence of jurisdictional waters on the golf course portion of the property by the U.S. Army Corps of Engineers. The Developer has subsequently approved such Jurisdictional Determination and such Buyer Condition Precedent has been satisfied. C. The DDA provides for City to convey fee title and leasehold interests to Developer in certain land owned by the City, as follows: (1) The sale of land (the "Single Family Element") to Developer pursuant to the Single Family PSA; (2) A Ground Lease for land ("Developer Hotel Element") to be used for the construction and operation of a hotel with publicly accessible outdoor space and a restaurant ("Developer Hotel Ground Lease"); (3) A Ground Lease for land ("Multifamily Element") to be used for the construction and operation of a market -rate multifamily residential development ("Multifamily Ground Lease"); (4) A Ground Lease for land ("Developer Restaurant Element") to be used for the construction and operation of a restaurant and banquet facility ("Developer Restaurant Ground Lease"); and