Title
RESOLUTION of the City of San Leandro City Council Approving and Authorizing the City Manager Execute an Agreement to Purchase the Nimitz Motel Property Located at 555 Lewelling Boulevard (APN: 412-1-4-1) and Associated Closing Costs in an Amount Not to Exceed $6,235,000 (for Short-Term Conversion to a Homeless Navigation Center and Shelter and Long-Term Conversion to Permanent Supportive Housing for the Homeless)
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WHEREAS, the City of San Leandro ("City") desires to acquire and rehabilitate improved real property in the City in order to convert that property to permanent or interim housing for homeless persons within the City; and
WHEREAS, Parshotam Inc. ("Owner") is the owner of that certain real property located at 555 Lewelling Boulevard, San Leandro, California ("Property"), which is currently improved with a building that is used for the operation of the Nimitz Motel, and also includes a small restaurant and a billboard; and
WHEREAS, the City desires to acquire the Property, including the furniture, fixtures and equipment located therein, for conversion to a navigation center and temporary shelter for homeless persons within the City, and future conversion to permanent affordable supportive housing for homeless persons, pursuant to plans and specifications that are to be determined; and
WHEREAS, City staff and the Owner negotiated the terms and conditions of a Standard Offer, Agreement and Escrow Instructions for Purchase of Real Estate ("Purchase Agreement"), under which the City would agree to acquire the Property from the Owner for the purchase price of Six Million One Hundred Fifty Thousand Dollars ($6,150,000), a copy of which has been provided to the City Council and is attached to this Resolution and incorporated herein; and
WHEREAS, the staff recommended purchase price of the Property under the Purchase Agreement is slightly higher than the appraised value of the Property, as determined by an appraisal of the Property conducte...
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