13B Action Items - Laserfiche WebLink

Home

File Number: 22-450 The proceeds from sale of the properties would be held in escrow until this time, and would be returned to Beam, less costs as outlined in the Put Option Agreement, if the Put Option is exercised. Based on the current project schedule, Beam intends to submit entitlements applications within the next month, after which staff and consultants will work with them to review the applications per Code and environmental requirements in an expeditious manner with the goal of completing plan review and adjustments to plans by the first quarter of 2023 and completing technical environmental studies and CEQA determination and reaching an entitlements hearing by the second quarter of 2023. If the properties are not sold prior to the end of 2022 or are reconveyed to the City and Successor Agency through the Put Option, the properties would be required to be offered for sale based upon the Successor Agency’s Long Range Property Management Plan. Such sale would be required to comply with the Surplus Lands Act, which requires, among other things, that properties be offered to specified public agencies and affordable housing developers and have a minimum of 25% affordable housing. However, Beam would not be subject to such requirements and would continue to own a large portion of the site, with their properties dividing the public properties and limiting the size and feasibility of successful development on the public sites. Based on this, staff recommends the approval of the Fifth Amendment to the PSA as the best means to achieve a successful sale and development to the Town Hall Square site in the most expeditious manner . Approval of the Fifth Amendment to the PSA is also subject to the approval of the Alameda Countywide Oversight Board, and is scheduled for consideration at its July 25, 2022 meeting . Previous Actions ·On November 2, 2015, the Successor Agency approved the Long Range Property Management Plan, establishing a plan for transferring or selling the real property assets that were owned by the former Redevelopment Agency. ·On November 6, 2017, the City Council and Successor Agency approved a Purchase and Sale Agreement with BEAM Development, LLC. for Sale of Successor Agency-owned and City-owned properties at 290, 262, 250, and 222 Davis Street and 1199 E 14th Street. Applicable General Plan Policies ·Policy ED-5.2 - Housing Production. Substantially increase the production of a variety of housing types meeting the needs of persons at all income levels. ·Policy LU-3.4 - Promotion of Infill. Encourage infill development on vacant or underused sites within residential and commercial areas. ·Policy LU-6.6 - Downtown Housing Diversity. Encourage a mix of market-rate and affordable housing in the Downtown area, including ownership and rental housing at a variety of price points. Recognize the opportunity to make future Downtown housing more affordable by reducing accompanying transportation costs and making it more feasible to use transit, bicycles, bicycle and car-sharing, and other innovative modes of transportation as these Page 5 City of San Leandro Printed on 7/13/2022