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IN THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO <br />RESOLUTION NO. 2004-007 RDA (2730/2888) <br />RESOLUTION OF THE REDEVELOPMENT AGENCY <br />OF THE CITY OF SAN LEANDRO <br />AUTHORIZING A TRANSFER OF FUNDS FROM THE PLAZA PROJECT AREA TO THE <br />COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) PROGRAM FUND <br />WHEREAS, on January 18, 2000, the City Council adopted Resolution No. 2000-3 <br />approving a Community Development Block Grant (CDBG) Capital Improvement Agreement <br />between the City and the Davis Street Community Center for a loan for the purchase of property <br />at ll03 Davis Street from the San Leandro Redevelopment Agency, which property was to be <br />used for construction of a service center; and <br />WHEREAS, the Davis Street Community Center constructed the service center at another <br />location and quitclaimed said property back to the Redevelopment Agency; and <br />WHEREAS, in 2003 the property was appraised at $520,000 as the market value for use <br />as multifamily housing, the highest and best use in the opinion of the appraiser; <br />WHEREAS, the Agency desires to repay the CDBG obligation and clear the title of 1103 <br />Davis; <br />NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: <br />That the Redevelopment Agency of the City of San Leandro authorizes a transfer of <br />$520,000 from the Plaza Project Area to the CDBG fund, and directs staff to process all related <br />paperwork to clear the title of 1103 Davis. <br />