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File #: 15-1218    Version: 1 Name: 12th Street Remainder Parcel Disposition And Development Agreement With Urbancore And EBALDC
Type: Ordinance Status: Introduced In Council
File created: 6/15/2016 In control: * Special Meeting of the Oakland City Council
On agenda: 7/26/2016 Final action:
Title: Subject: 12th Street Remainder Parcel Disposition And Development Agreement With Urbancore And EBALDC From: Economic And Workforce Development Recommendation: Adopt An Ordinance: (1) Authorizing The City Administrator, Without Returning To The City Council, To Negotiate And Execute A Disposition And Development Agreement And Related Documents Between The City Of Oakland And Urbancore Development, LLC Or Its Related Entities Or Affiliates ("Urbancore"), And East Bay Asian Local Development Corporation Or Its Related Entities Or Affiliates ("EBALDC"), For (A) Sale Of The 12th Street Remainder Parcel Located At E12th Street And 2nd Avenue ("Property") For No Less Than $8.0 Million, (B) A Seller Carryback Loan From The City To EBALDC In The Amount Of $3.3 Million Plus The Cost Of Loan Origination, And (C) Development Of The Property As A Residential Mixed-Use Project, All Of The Foregoing Documents To Be In A Form And Content Substantially In Conformance With The Term Sheet Attached As Ex...
Sponsors: Economic & Workforce Development Department
Attachments: 1. View Report, 2. Attachment A - Lakehouse -, 3. View Supplemental Report, 4. 13382 CMS, 5. Proof Of Publication 13382

Title

Subject:                     12th Street Remainder Parcel Disposition And Development Agreement With Urbancore And EBALDC

From:                                          Economic And Workforce Development

Recommendation: Adopt An Ordinance: (1) Authorizing The City Administrator, Without Returning To The City Council, To Negotiate And Execute A Disposition And Development Agreement And Related Documents Between The City Of Oakland And Urbancore Development, LLC Or Its Related Entities Or Affiliates ("Urbancore"), And East Bay Asian Local Development Corporation Or Its Related Entities Or Affiliates ("EBALDC"), For (A) Sale Of The 12th Street Remainder Parcel Located At E12th Street And 2nd Avenue ("Property") For No Less Than $8.0 Million, (B) A Seller Carryback Loan From The City To EBALDC In The Amount Of $3.3 Million Plus The Cost Of Loan Origination, And (C) Development Of The Property As A Residential Mixed-Use Project, All Of The Foregoing Documents To Be In A Form And Content Substantially In Conformance With The Term Sheet Attached As Exhibit A, And; (2) Adopting CEQA Exemptions (15183 & 15183.3) And Addendum (Relying On The Previously Certified 2014 Lake Merritt Station Area Plan EIR)