The Council of the City of San Jose convened in Adjourned Regular Session at 3:50 p.m., for a joint meeting with the Redevelopment Agency Council Chambers at City Hall.
Present Council Members: Campos, Cortesé, Dando, Diquisto, LeZotte, Reed, Williams, Yeager; Gonzales
Absent Council Members: Chavez, Shirakawa, Jr.
7.1 (a) Approval by the Agency Board of a Purchase and Sale Agreement with EHC in the amount of $725,500, plus related closing costs for the acquisition of 26-28 South Fifth Street within the Civic Plaza Project Area; and,
(b) Adoption of a resolution
by the City Council approving the disposition of property located at the northeast
corner of South Third and East William Streets to the Emergency Housing
Consortium, accepting the 33433 Summary Report, and finding that the
disposition of the property will assist in the elimination of blight and that
the consideration for the property is not less than the fair reuse value for
the proposed use, with the covenants and conditions and development costs
authorized by the Relocation and Development Agreement;
(c) Adoption of a resolution by the Agency
Board approving a Relocation and Development Agreement and authorizing the
Executive Director to execute ancillary documents contemplated by the
Relocation and Development Agreement and to close escrow and dispose of the
property described in the Relocation and Development Agreement subject to compliance
with the terms of the Relocation and Development Agreement, and to negotiate
and execute amendments to the Relocation and Development Agreement
substantially in conformance with the intent of the Relocation and Development
Agreement as reasonably necessary to conform to lender requirements.
Documents Filed: None.
Discussion/Action: This Item was deferred to October 30, 2001.
7.2 Adoption of resolutions:
(a) By the City Council approving the disposition of the Twohy building located at 210 S. First Street, between San Fernando and San Carlos Streets, to CIM California Urban Real Estate Fund L.P., accepting the 33433 Summary Report and Re-Use Appraisal, and finding that the disposition of the property will assist in the elimination of blight, is consistent with the Implementation Plan for the San Antonio Plaza Redevelopment Project Area and that the consideration for the property is not less than the fair reuse value for the proposed use, with the covenants and conditions and development costs authorized by the Disposition and Development Agreement (DDA).
(b) By the Agency Board approving the addition of $1.8 million to the Adopted FY 2001-2002 Capital Budget Twohy building DDA project line in the San Antonio Redevelopment Area and amending the FY 2001-2002 Agency appropriation resolution.
(c) By the Agency Board approving the proposed FY 2001-02 capital rebudget for the San Antonio Plaza, Twohy building (DDA) project.
(d) By the Agency Board approving the DDA and authorizing the Executive Director to execute ancillary documents contemplated by the DDA and to close escrow and convey the Property subject to compliance with the terms of the DDA, and to negotiate and execute amendments to the DDA substantially in conformance with the intent of the DDA as reasonably necessary to conform to lender requirements.
CEQA: Resolution No. 68839
Documents Filed: Memorandum from Redevelopment Agency Executive Director, Susan F. Shick, dated October 23, 2001, recommending the Redevelopment Agency Board and the City Council take appropriate action regarding the Disposition and Development Agreement.
Discussion/Action: Upon motion by Council Member Williams, seconded by Council Member Dando and unanimously carried, Resolution No. 70675, entitled: “A Resolution of the Council of the City of San Jose (1) Approving the Disposition of the Twohy Building Located at 210 S. First Street to CIM California Urban Real Estate fund L.P.; (2) Accepting the California Health and Safety Code Section 33433 Summary Report and Re-Use Appraisal; and (3) Making Certain Findings”; Redevelopment Agency Board Resolution No. 5216 approving the addition of $1.8 Million to the Capital Budget Twohy Building DDA project line and amending the appropriation resolution; Redevelopment Agency Board Resolution No. 5217 approving the proposed Capital rebudget for the Twohy Building project; and Redevelopment Agency Board Resolution No. 5218 approving the DDA and authorizing the execution of related documents to complete lender requirements, were adopted. Vote: 9-0-2-0. Absent: Chavez, Shirakawa, Jr.
The Council and the Redevelopment Agency of the City of San Jose adjourned at 4:50 p.m.
ATTEST:
PATRICIA L. O’HEARN,
CITY CLERK