File #: 14-0028    Version: 1 Name: Sears Lease Disposition and Development Agreement
Type: ORSA Resolution Status: Passed
File created: 9/2/2014 In control: Meeting of the Oakland City Council
On agenda: 10/21/2014 Final action: 10/7/2014
Title: Subject: Sears Lease Disposition and Development Agreement From: Economic Workforce Development Department Recommendation: Adopt An Oakland Redevelopment Successor Agency Resolution Authorizing An Amendment To A Lease Disposition And Development Agreement ("LDDA") With Sears Development Company For An Automotive Service Project Located At 2000-2016 Telegraph Avenue And 490 Thomas L. Berkeley Way To: (1) Approve The Assignment Of The LDDA To W/L Broadway Telegraph Owner VII, LLC, Or An Affiliated Entity, Or An Affiliate Of Lane Partners, LLC And/Or Walton Street Capital, LLC; (2) Extend Development Deadlines For The Project; (3) Reduce A Contingent Payment Obligation To The Owner From $1,600,000 To $1,575,000; And (4) Require The Payment Of $100,000 To The Successor Agency As Consideration For The Assignment And Extension
Attachments: 1. View Report.pdf, 2. 2014-010 ORSA.pdf
Title
Subject:      Sears Lease Disposition and Development Agreement
From:            Economic Workforce Development Department
Recommendation:  Adopt An Oakland Redevelopment Successor Agency Resolution Authorizing An Amendment To A Lease Disposition And Development Agreement ("LDDA") With Sears Development Company For An Automotive Service Project Located At 2000-2016 Telegraph  Avenue And 490 Thomas L. Berkeley Way To: (1) Approve The Assignment Of The LDDA To W/L Broadway Telegraph Owner VII, LLC, Or An Affiliated Entity, Or An Affiliate Of Lane Partners, LLC And/Or Walton Street Capital, LLC; (2) Extend Development Deadlines For The Project; (3) Reduce A Contingent Payment Obligation To The Owner From $1,600,000 To $1,575,000; And (4) Require The Payment Of $100,000 To The Successor Agency As Consideration For The Assignment And Extension