DATE: June 4, 2019
TO: Mayor and City Council
FROM: Deputy City Manager
SUBJECT
Title
Approval of Actions Necessary for the City of Hayward to Enter into a Purchase and Sale Agreement with 37 Hayward, LLC for Purchase of the City Center Tower Property Located at 22300 Foothill Boulevard for a Purchase Price of $5,200,000 and Up to an Additional $100,000 in Associated Costs
End
RECOMMENDATION
Recommendation
That the City Council:
1. Adopts a Resolution approving the acquisition of property located at 22300 Foothill Boulevard (APN 415-250-112), authorizing the City Manager to negotiate and execute a Purchase and Sale Agreement (PSA) with 37 Hayward, LLC, and finding that the acquisition is exempt from review under the California Environmental Quality Act pursuant to Sections 15061 and 15301 of the California Environmental Quality Act Guidelines; and
2. Adopts a Resolution appropriating $3,300,000 from the Route 238 Corridor Lands Development Fund (Fund 411) and $2,000,000 from the General Fund (Fund 100) for a total of $5,300,000 for the purchase of real property located at 22300 Foothill Boulevard (APN 415-250-112)...End
SUMMARY
Staff recommends that the City Council authorize the City Manager to negotiate and execute a Purchase and Sale Agreement with 37 Hayward, LLC (PSA) for the acquisition of the 1.4-acre City Center Tower property (Property) located at 22300 Foothill Boulevard for a purchase price of $5.2 million and up to an additional $100,000 in associated costs. The Property is adjacent to other land owned by the City, and its acquisition provides a unique opportunity to preserve it for future redevelopment to help revitalize the downtown. The proposed acquisition of the Property will be for public purposes, which may include exchange, mitigation of blight, or economic development.
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution - PSA Authorization
Attachment III Resolution - B...
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