HomeMy WebLinkAboutReso 107-2014 RESOLUTION NO. 107-2014
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
APPROVING AN EXCLUSIVE NEGOTIATION RIGHTS
AGREEMENT WITH BROOKWOOD EQUITIES, LLP FOR
POTENTIAL DISPOSITION AND DEVELOPMENT OF 201-227
GRAND AVENUE AND 418 LINDEN AVENUE
WHEREAS, the City of South San Francisco ("City") is the owner of certain real property
located in the City of South San Francisco, California,known as County Assessor's Parcel Number
012-314-010 ("418 Linden Avenue"); and
WHEREAS, the Successor Agency ("Agency") is the owner of certain real property (the
"Successor Agency Property") located in the City of South San Francisco, California, known as
County Assessor's Parcel Numbers 012-316-110 (201 Grand Avenue), 012-316-100 (207 Grand
Avenue),012-316-090 (217-219 Grand Avenue), 012-316-070 (227 Grand Avenue); and
WHEREAS, the Successor Agency Property was transferred from the City of South San
Francisco to the Agency pursuant to Grant Deeds; and
WHEREAS, on June 29, 2011 the legislature of the State of California (the "State")
adopted Assembly Bill xl 26 ("AB 26"), which amended provisions of the Redevelopment Law;
and
WHEREAS, pursuant to AB 26 and the California Supreme Court decision in California
Redevelopment Association, et al. v. Ana Matosantos, et al., which upheld AB 26 (together with
AB 1484,the "Dissolution Law"),the Redevelopment Agency was dissolved on February 1, 2012;
and
WHEREAS, pursuant to the Dissolution Law, the Agency has prepared and the Oversight
Board has approved a Long Range Property Management Plan ("LRPMP") which is presently
under review by California Department of Finance ("DOF"); and,
WHEREAS, the LRPMP being reviewed by the DOF includes development plans for the
Successor Agency Property; and,
WHEREAS, DOF approval of a LRPMP authorizing a process for conveyance of the
Successor Agency Property is required prior to conveyance of the Successor Agency Property, and,
WHEREAS, the City is interested in selling 418 Linden to Brookwood Equities, LLP, a
Delaware limited liability company ("Developer") contingent upon Developer securing all of
funding for the Project and obtaining any applicable land use entitlements from the City of South
San Francisco and if such funding is secured and entitlements are granted constructing
approximately 90 multi-family residential units ("Project") of which approximately 18 will be
affordable to low- and moderate-income households on 418 Linden Avenue and the Successor
Agency Property; and,
WHEREAS, the Developer has requested the exclusive right to negotiate with City to
develop the Project and negotiate with the City for the purpose of reaching agreement on a project
description, appropriate land uses, economic feasibility, and a definitive agreement whose terms
and conditions would govern any conveyance of 418 Linden and the development of 418 Linden;
and,
WHEREAS, City desires to grant Developer the exclusive right to negotiate with City with
regard to development of the 418 Linden and the Successor Agency Property; and
WHEREAS, the City Attorney has prepared an Exclusive Negotiation Rights Agreement
("Agreement") with Developer to reflect the terms and conditions of such exclusive collaboration
and negotiation.
NOW, THEREFORE, the City Council of the City of South San Francisco does hereby
resolve as follows:
1. The Recitals set forth above are true and correct, and are incorporated herein by
reference.
2. The Agreement, substantially in the form attached hereto, is hereby approved, and the
City Manager or his designee is hereby authorized to execute it on behalf of the City;to make non-
substantive revisions to the Agreement, with review and approval by the City Attorney; to sign all
documents; to make all approvals and take all actions necessary or appropriate to carry out and
implement the intent of this Resolution.
I hereby certify that the foregoing Resolution was regularly introduced and adopted by the
City Council of the City of South San Francisco at a regular meeting held on the 24th day of
September, 2014 by the following vote:
AYES: Councilmembers Mark N. Addiego,Pradeep Gupta, and Liza Normandy
Vice Mayor Richard A. Garbarino and Mayor Karyl Matsumoto
NOES: None
ABSTAIN: None
ABSENT: None
AT ' S� . aI A d -
, •
sta :� el , - Clerk