File #: 22-450    Version: 1 Name: Town Hall Square PSA Amendment
Type: Staff Report Status: Filed
In control: City Council
Meeting Date: 7/18/2022 Final action: 7/18/2022
Enactment date: Enactment #: Reso 2022-132 and Reso 2022-133
Title: Adopt Resolution to Authorize the City Manager to Execute the Fifth Amendment to the Purchase and Sale Agreement and Joint Escrow Instructions between the Successor Agency to the Redevelopment Agency of the City of San Leandro, the City of San Leandro, and Beam Development, LLC, for Sale of Real Property Owned by the City of San Leandro; and Adopt Resolution to Authorize the Board of Directors of the Successor Agency to the Redevelopment Agency of the City of San Leandro to Execute a Fifth Amendment to the Purchase and Sale Agreement and Joint Escrow Instructions between the Successor Agency to the Redevelopment Agency of the City of San Leandro, the City of San Leandro, and Beam Development, LLC, for Sale of Real Property Owned by the Successor Agency
Sponsors: Tom Liao
Attachments: 1. Att A - Reso Town Hall Square PSA 5th Amnd - CC, 2. Att B - Reso Town Hall Square PSA 5th Amnd - SA, 3. Att C - Fifth Amendment to PSA Town Hall Square, 4. Att C - Exhibit A - Put Option Agreement Town Hall Square, 5. Att D - San Leandro - Town Hall Square PSA with Amnds 1 - 4, 6. Presentation Town Hall Sq PSA Amnd
Title
Adopt Resolution to Authorize the City Manager to Execute the Fifth Amendment to the Purchase and Sale Agreement and Joint Escrow Instructions between the Successor Agency to the Redevelopment Agency of the City of San Leandro, the City of San Leandro, and Beam Development, LLC, for Sale of Real Property Owned by the City of San Leandro; and
Adopt Resolution to Authorize the Board of Directors of the Successor Agency to the Redevelopment Agency of the City of San Leandro to Execute a Fifth Amendment to the Purchase and Sale Agreement and Joint Escrow Instructions between the Successor Agency to the Redevelopment Agency of the City of San Leandro, the City of San Leandro, and Beam Development, LLC, for Sale of Real Property Owned by the Successor Agency
Staffreport
COUNCIL PRIORITY
* Housing and Homelessness
* Community & Business Development

SUMMARY

Staff recommends a Fifth Amendment to the Purchase and Sale Agreement for public properties in the Town Hall Square area, which will address market and regulatory challenges and facilitate the successful sale and development of much needed housing, and activation of Downtown San Leandro.

RECOMMENDATIONS

Staff recommends that the City Council, serving in its capacity as the Board of Directors of the Successor Agency to the Redevelopment Agency of the City of San Leandro (Successor Agency), approve a Resolution authorizing the City Manager, acting as the Executive Director of the Successor Agency, to execute the Fifth Amendment to the Purchase and Sale Agreement and Joint Escrow Instructions between the Successor Agency to the Redevelopment Agency of the City of San Leandro, the City of San Leandro and Beam Development, LLC (Beam) for sale of the following Successor Agency-owned properties in keeping with the Successor Agency's Long Range Property Management Plan:
* 290 Davis Street (APN: 075-0001-010-02)
* 250 Davis Street (APN: 075-0001-008-02)
* 222 Davis Street (APN: 075-0001-006-00)
* 212...

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