DATE: November 27, 2018
TO: Mayor and City Council
FROM: Deputy City Manager
SUBJECT
Title
Authorization for the City Manager to Negotiate and Execute an Exclusive Negotiating Agreement with Red Bridge Partners for the Purchase of Three Parcels Located at the Northeast Corner of C and Main Streets for a Mixed-Use Housing and Commercial Project. This Action Is Exempt from CEQA Pursuant to Section 15332- In-Fill Development Projects.
RECOMMENDATION
Recommendation
That the City Council adopts the attached resolution (Attachment II) authorizing the City Manager to negotiate and execute an Exclusive Negotiating Agreement (ENA) for the sale of three parcels of land at the northeast corner of C and Main Streets in Downtown Hayward for a mixed-use housing and commercial project.
End
SUMMARY
The purpose of this item is to authorize the City Manager to enter into an ENA with the developer, Red Bridge Partners (RBP), to prepare conceptual development plans and commence negotiations of a Disposition and Development Agreement for acquisition and development of City owned parcels for a mixed-use housing project in Downtown Hayward. The ENA gives RBP reassurance that the City will not negotiate with another development entity while they are expending funds to conduct due diligence during the ENA negotiation period.
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution