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File #: 14-0013    Version: Name: Sale Of Champion Street Site
Type: Ordinance Status: Passed
File created: 9/2/2014 In control: Meeting of the Oakland City Council
On agenda: 10/21/2014 Final action: 10/21/2014
Title: Subject: Sale Of Champion Street Site From: Economic Workforce Development Department Recommendation: Adopt An Ordinance Authorizing The City Administrator To: 1) Negotiate And Execute A Disposition And Development Agreement For The Sale Of 3455and 3461 Champion Street ("Properties") To Jack Stewart Or A / Legal Entity Affiliated With Jack Stewart And Approved By City Administrator For Development Of A Restaurant On The Following Terms: (1) Purchase Price Not Less Than Three Hundred Eighty Two Thousand Five Hundred Dollars ($382,500); (2) Credit To Buyer For Fuel Tank Removal Not To Exceed Ten Thousand Dollars ($10,000); (3) Reservation Of An Easement To The City For A Fiber Optics Hub And Related Uses; 2) Direct Two Hundred Thousand Dollars ($200,000) Of The Net Sales Proceeds Towards Funding The City's Asset Portfolio Management Plan; And 3) Allocate Seventy Five Thousand Dollars ($75,000) In Community V Development Block Grant (CDBG) Funds To Developer Exclusively For Facade A...
Attachments: 1. View Report.pdf, 2. 13264 C.M.S
Title
 
Subject:      Sale Of Champion Street Site      
From:            Economic Workforce Development Department
Recommendation:   Adopt An Ordinance Authorizing The City Administrator To: 1) Negotiate And Execute A Disposition And Development Agreement For The Sale Of 3455and 3461 Champion Street ("Properties") To Jack Stewart Or A / Legal Entity Affiliated With Jack Stewart And Approved By City Administrator For Development Of A Restaurant On The Following Terms: (1) Purchase Price Not Less Than Three Hundred Eighty Two Thousand Five Hundred Dollars ($382,500); (2) Credit To Buyer For Fuel Tank Removal Not To Exceed Ten Thousand Dollars ($10,000); (3) Reservation Of An Easement To The City For A Fiber Optics Hub And Related Uses; 2) Direct Two Hundred Thousand Dollars ($200,000) Of The Net Sales Proceeds Towards Funding The City's Asset Portfolio Management Plan; And 3) Allocate Seventy Five Thousand Dollars ($75,000) In Community V Development Block Grant (CDBG) Funds To Developer Exclusively For Facade And Exterior Improvements Of The Properties