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OaklandRedevelopmentSuccessorAgencyandtheCityCouncil,2014-10-07,"Concurrent Meeting of the Oakland
Meeting Minutes
October 7, 2014
Redevelopment Successor Agency
and the City Council
Aye: 8 - Brooks, Gallo, Gibson McElhaney, Kalb, Kaplan, Reid, Schaaf, and Kernighan
12
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
14-0028
Attachments: View Report.pdf
2014-010 ORSA.pdf
A motion was made by Councilmember Gibson McElhaney, seconded by
President Pro Tempore Kaplan, that this matter be Adopted. The motion carried
by the following vote:
Abstained: 1 - - Brooks
Aye:
7 - Gallo, Gibson McElhaney, Kalb, Kaplan, Reid, Schaaf, and Kernighan
CONTINUATION OF OPEN FORUM
ADJOURNMENT OF COUNCIL SESSION
(Meeting Shall Conclude No Later Than 12:00 A.M., Unless Extended By Majority Vote Of The
Council)
There being no further business, and upon the motion duly made, the Council
adjourned the meeting in memory of Mary Blevins and Mae Francis ""Sue"" Howard
at 7:10 p.m.
City of Oakland
Page 11
Printed on 12/16/2014",11,OaklandRedevelopmentSuccessorAgencyandtheCityCouncil/2014-10-07.pdf