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IN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO <br />RESOLUTION N0.2000 -12 (1120/ 1313-a ) <br />A RESOLUTION OF THE CITY COUNCIL APPROVING <br />THE REUSE REPORT REQUIRED BY HEALTH AND SAFETY CODE SECTION 33433 AND <br />THE DISPOSITION AND DEVELOPMENT <br />AGREEMENT BETWEEN AMERICAN BAPTIST HOMES OF THE WEST AND <br />THE REDEVELOPMENT AGENCY OF THE CITY OF SAN LEANDRO <br />FOR THE DEPOSITION OF PROPERTY AT 232 EAST 14T" STREET <br />APN #76-273-27-2 <br />RECITALS <br />WHEREAS, the Agency has negotiated a Disposition and Development Agreement ("Agreement") <br />between the Agency and American Baptist Homes of the West ("Developer") to build an affordable housing <br />development for senior citizens at 232 East 14th Street, San Leandro, which will further the purposes of the <br />Joint Alameda County/City of San Leandro Redevelopment Plan; and <br />WHEREAS, the Agreement provides for the Agency to acquire the Property at 232 East 14th <br />Street, San Leandro (the "Property") and convey it to Developer for consideration in the amount of <br />$1,000,000; and <br />WHEREAS, the Agency intends to apply for $1,000,000 in Housing and Urban Development <br />"Section 108" program funds and loan such funds to Developer to construct the housing; and <br />WHEREAS, Developer will develop an affordable housing development for senior citizens, as <br />previously agreed upon in the Agreement; and <br />WHEREAS, the Agreement provides that the Agency will acquire the Property and that acquisition <br />will be directly or indirectly financed with tax increment funds; and <br />WHEREAS, the Agency has caused to be prepared a report required by the Health and Safety <br />Code § 33433 ("Reuse Report") which contains a summary of the proposed Agreement to be entered into <br />between the Agency and Developer and a summary of the cost of the Agreement to the Agency; and <br />WHEREAS, the summary of the cost of the Agreement includes: land acquisition costs, clearance <br />costs, remediation costs, administrative costs, the estimated value of the interest to be conveyed <br />determined at the highest and best uses permitted under the project plan, the estimated value of the <br />interest to be conveyed determined at use with conditions, covenants, and development costs required by <br />the sale; and an explanation of why the sale of the property will assist in the elimination of blight; and <br />WHEREAS, the Agency has made the Reuse Report available for public inspection pursuant to <br />