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'Mis report outlines the salient parts of the proposed Disposition and Development Agreement <br />(Agreement) by and between the City of San Leandro Redevelopment Agency (Agency) and Creekside <br />Center Associates, Inc. (Developer), which requires the Developer to use the subject site for the <br />development, construction and management of a local resident -serving retail center with high quality <br />site amenities. The purpose of this analysis is to determine the cost of the Agreement to the Agency. <br />This report is based upon information in the proposed Agreement and is organized into the following <br />five sections- <br />1. Summary of the Proposed Agreement - This section includes a description of the <br />site, the proposed development and the major responsibilities of the Agency and the <br />Developer. <br />2. Cost of the Agreement to the Agency - This section outlines the cost of the <br />Agreement to the Agency. It presents the terms of the land conveyance to the <br />Developer by the Agency, and sets forth the net cost of the Agreement of the Agency. <br />3. Estimated Value of the Interest to be Conveyed - This section summarizes the value <br />of the site to be conveyed to the Developer. <br />4. Elimination of Blight - This section includes an explanation of why the sale of the <br />property will assist ir,. the elimination of blight and the supporting facts and materials. <br />5. Consideration Received and Reasons Therefore - This section describes the <br />purchase price to be paid by the Developer to the Agency. It also contains a <br />comparison of the purchase price and the fair market value at the highest and best use <br />consistent with the redevelopment plan for the interests conveyed. <br />160 <br />KEYSER MARSTON ASSOCIATES I N C. <br />19100J0001-001.doc Pop 2 <br />