Reso 2022-133 Town Hall Square PSA 5th Amnd - SA

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WHEREAS, the City of San Leandro ("City") is the owner of certain real property with the address of 262 Davis Street, San Leandro, California, also known as Alameda County Parcel Number APN: 075-0001-009-02 (the "City Property"); and WHEREAS, the Successor Agency is the owner of certain real properties located adjacent to the City Property with addresses of 290 Davis Street, 250 Davis Street, 222 Davis Street, 212 Davis Street, and 1199 E. 141h Street, San Leandro, California, also known as Alameda County Parcel Numbers APN: 075-0001-010-02; APN: 075-0001-008-02; APN: 075-0001-006-00; APN: 075-0001-005-00; and APN: 075-0001-004-00 (the "Successor Agency Properties", together with "City Property" as "Properties"); and WHEREAS, the Successor Agency Properties are included as "for sale" properties in the Long Range Property Management Plan prepared by the Successor Agency and approved by the City Oversight Board and the California Department of Finance; and WHEREAS, the Successor Agency previously issued a public request for proposals (the "RFP") for the purchase and development of the Successor Agency Properties; and WHEREAS, the Successor Agency specified that as part of the RFP the Properties will only be sold concurrently with the City Property; and WHEREAS, Beam Development, LLC. ("Buyer") submitted a proposal to the Successor Agency offering to pay Two Million One Hundred Thousand Dollars ($2,100,000.00) for the combined purchase of the Properties and the City Property ("Purchase Price"); and WHEREAS, Successor Agency staff determined that Buyer possesses the resources and experience necessary to complete a successful development at the Properties consistent with the Long Range Property Management Plan; and WHEREAS, the Successor Agency and City reviewed the sales price of comparable properties, as well as other responses to the RFP, and determined that the Purchase Price represented the fair market value of the Successor Agency Properties and the City Property; and WHEREAS, a Purchase and Sale Agreement and Joint Escrow Instructions (the "Original Agreement") were approved by the City of San Leandro City Council ("City Council") and the Successor Agency to the Redevelopment Agency of the City of San Leandro ("Successor Agency") for the sale of City Property and Successor Agency Properties on November 6, 2017 by City Resolution No. 2017-155 and Successor Agency Resolution No. 2017-006; and WHEREAS, Buyer, Successor Agency and City entered into that certain Purchase and Sale Agreement and Joint Escrow Instructions dated as of December 7, 2017 (the "Original Agreement"), as amended by that certain First Amendment to Purchase and Sale Agreement dated as of December 4, 2018 (the "First Amendment"), that certain Second Amendment to Purchase and Sale Agreement dated as of January 30, 2020 (the "Second Amendment"), that certain Third Amendment to Purchase and Sale Agreement dated as of January 31, 2022 (the "Third Amendment") and that certain Fourth Amendment to Purchase and Sale Agreement dated as of May 31, 2022 (the "Fourth Amendment", and collectively with the Original Agreement, First Amendment, Second Amendment, Third Amendment and Fourth Amendment, the "Purchase Agreement"); and RESOLUTION NO. 2022-133 2