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File Number: 22-705 ·Policy LU-9.1 Waterfront Enhancement. Enhance the San Leandro waterfront as a distinguished recreational shoreline and conservation area, with complementary activities that boost its appeal as a destination for San Leandro residents and visitors. Future development at the Shoreline should be compatible with the area's scenic and recreational qualities . ·Policy LU-9.3. Public Amenities in Shoreline Development. Ensure that future development at the Shoreline includes complementary amenities that benefit San Leandro residents and current shoreline users, such as improved park space, restaurants, pedestrian and bicycle paths, and access to the Bay Trail. ·Policy LU-9.4. Land Use Mix. Strive for a mix of land uses in the San Leandro Shoreline area that requires little or no City investment and results in a Shoreline that is financially self-supporting. Development should be phased in a manner that is consistent with this policy, and should maximize the extent to which commercial development funds public amenities and services. Environmental Review Staff has reviewed the proposed Project and analyzed it based upon Section 15162 of the CEQA Guidelines. The scope of proposed development is not proposed to change at this time and approval of the proposed amendment is not subject to environmental review at this time. Legal Analysis The City Attorney drafted the Third Amendment to the Purchase and Sale Agreement and Disposition and Development Agreement, and Promissory Note and Deed of Trust in compliance with all generally and specifically applicable laws and regulations. Financial Impacts The proposed amendment does not alter the sales price or lease rental rate for the Project. However, the proposed takeback loan will defer the receipt of sales proceeds for the Single-Family parcel. In order to carry out the City’s responsibilities under the DDA, such proceeds are intended for the construction of the Shoreline park. While planning for the park may continue at this time and funds for the park are not needed immediately, delay and uncertainty in the timing of the full payment may impact future timing of the park construction. If the sale is completed by December 31, 2022, and the loan executed, the $5 million down payment for the loan, as well as the interest, estimated at approximately $1.86 million over a year at 7.5%, will be available for the City’s use. Upon completion, the Shoreline Development will have numerous positive fiscal impacts, with approximately $350 million in private investment, $29 million for the land sale, $1.4 million in annual leases, $2.2 million towards the affordable housing trust fund, $900,000 in annual Hotel Transit Occupancy Tax per year, over $300,000 in expected building permit fees, payment of applicable development impact fees, and increased annual property tax revenues . ATTACHMENTS ·Attachment A: Resolution to Approve and Authorize the City Manager to Execute the Third Amendment to the Purchase and Sale Agreement and Disposition and Development Agreement and a Promissory Note and Deed of Trust with Cal Coast Companies LLC, Inc. and Making Findings Related Thereto for the Shoreline Development Project. ·Attachment B: Third Amendment to the Purchase and Sale Agreement and Disposition and Development Agreement for Shoreline Development Project o Ex A: Shoreline Single Family Promissory Note Page 5 City of San Leandro Printed on 12/14/2022