Title
Staff Report for a Resolution to Authorize the City Manager to Write Off the Loan Created for Purchase of 2139 Laura Avenue and Appropriate Revenue from the Sale of 2139 Laura Avenue for the Creation of a Neighborhood Investment Program for the Davis West Neighborhood
Staffreport
SUMMARY AND RECOMMENDATIONS
The City Manager recommends that the City Council invest the revenue generated from the sale of City-owned property at 2139 Laura Avenue in the Davis West Neighborhood.
The resolution would authorize the City Manager to:
* Write off the General Fund loan created to purchase the 2139 Laura Avenue property; and
* Appropriate $542,000 from the sale of 2139 Laura Avenue to be designated for neighborhood improvements in the Davis West neighborhood; and
* Direct staff to create a Neighborhood Investment Program for the Davis West neighborhood that will prioritize improvements such as mitigation of ongoing noise impacts from the Metropolitan Oakland International Airport as well as beautification efforts in and adjacent to the neighborhood.
BACKGROUND
On December 5, 2000 (with an addendum added on July 22, 2003), the City entered into a settlement agreement with the Port of Oakland (Port) which mandated mitigation of potential noise impacts from the Metropolitan Oakland International Airport on San Leandro residents. Funded by the Port and administered by the City, this $9 million program, called the Residential Airport Noise Insulation Program, provided for the installation of insulation features such as new double-pane windows and sliding glass doors, and other noise insulation improvements in single-family dwellings in the Davis West, Timothy Drive and Mulford Gardens areas. Homeowners who participated in this program were required to sign an aviation easement with the Port of Oakland upon completion of the insulation improvements. By 2013, the program funded improvements on 154 homes, averaging approximately $30,000 per home in construction and ...
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