7B Consent 2002 0401 - Laserfiche WebLink

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• CITY OF SAN LEANDRO REDEVELOPMENT AGENCY STAFF REPORT APPROVED AND FORWARDED TO AGENCY BOARD Resp, 90032_3 DATE: April 1, 2002 a21..• TO: John J. Jermanis, Executive Director, John /' ermanis (414 Redevelopment Agency Exect, e Director, Rede elopment Agency FROM: Luke Sims, Business Development Manager 0 BY: Amalia Lorentz, Development Project Specialist SUBJECT: Matter of Amendments to the Disposition and Development Agreement between the Batarse Family Trust, U.T.A. dated May 7, 1987, Anthony A. Batarse, Jr., Trustee and the Redevelopment Agency of the City of San Leandro for the Disposition and Development of 467 Marina Boulevard (APN 075-0087-004-11) (formerly known as a portion of the property located at 467 Marina Boulevard (APN 075-0087-003-02), 505 Marina Boulevard (APN 075-0087-004- 04) and 517 Marina Boulevard (APN 075-0087-004-06)); and the Disposition and Development Agreement between Lavery California Dealership Properties No. 1, LLC and the Redevelopment Agency of the City of San Leandro for the Disposition and Development of 467 Marina Boulevard (APN 075-0087-004-11) (formerly known as a portion of the property located at 467 Marina Boulevard (APN 075-0087-003-02), 505 Marina Boulevard (APN 075-0087-004-04) and 517 Marina Boulevard (APN 075-0087-004-06)) SUMMARY AND RECOMMENDATION The development plan for the Yokota Nursery property (465-517 Marina Boulevard) has changed slightly since agreements were approved with two developers in October 2001 and amended in November 2001. Staff recommends approval of the attached resolutions that authorize amendments to the agreements reflecting the changes. DISCUSSION The purchase, resale, and redevelopment of the approximately 8.7-acre Yokota Nursery property is intended to extend auto retail sales on Marina Boulevard consistent with the Alameda County- City of San Leandro Redevelopment Implementation Plan. The Agency closed escrow on the property in a voluntary transaction, processed a lot line adjustment, and sold the newly reconfigured property to two auto dealership developers. The sellers contracted for the demolition of the existing buildings, and the Agency funded demolition, residential relocation, and environmental remediation in order to deliver a cleared site to the new owners. The project encompasses a Purchase and Sale Agreement with Yuriko Yokota et al, a Disposition and Development Agreement(DDA)with Lavery California Dealership Properties No. 1, LLC, and a DDA with the Batarse Family Trust. 31°1