File #: 26-0215    Version: 1
Type: City Resolution Status: In Committee
File created: 10/29/2025 In control: *Community & Economic Development Committee
On agenda: 11/18/2025 Final action:
Title: Subject: East Bay Asian Local Development Corporation Property Sale/Loan Forgiveness From: Housing And Community Development Department Recommendation: Adopt A Resolution Authorizing The City Administrator To Forgive $3,000,000 In Outstanding Principal And All Accrued And Unpaid Interest Owed By East Bay Highland Palms II, LP For The Highland Palms Property, And $5,000,000 In Outstanding Principal And All Accrued And Unpaid Interest Owed By East Bay Capital Fund II, LP For The Eastlake Property, To Preserve Long-Term Affordability Until 2073 And Facilitate The Property Sale To A New Owner
Sponsors: Housing And Community Development Department

Title

Subject:                      East Bay Asian Local Development Corporation Property Sale/Loan Forgiveness

From:                                           Housing And Community Development Department

Recommendation: Adopt A Resolution Authorizing The City Administrator To Forgive $3,000,000 In Outstanding Principal And All Accrued And Unpaid Interest Owed By East Bay Highland Palms II, LP For The Highland Palms Property, And $5,000,000 In Outstanding Principal And All Accrued And Unpaid Interest Owed By East Bay Capital Fund II, LP For The Eastlake Property, To Preserve Long-Term Affordability Until 2073 And Facilitate The Property Sale To A New Owner