Subject: East 12th Street Remainder Parcel 2 LDDA & Ground Lease From: Economic And Workforce Development Department Recommendation: Adopt An Ordinance: (1) Authorizing The City Administrator To Negotiate And Execute A Lease Disposition And Development Agreement Between The City Of Oakland (“City”) And Satellite Affordable Housing Associates Or Its Affiliate (“Developer”), For Development Of 94 Units Of Affordable Housing On A Portion Of The 12th Street Remainder (“Parcel 2”), Located At East 12th Street And 2nd Avenue, With A Term Of Three Years With A One-Year Extension; (2) Authorizing The City Administrator To Negotiate And Execute A 99-Year Ground Lease Between The City And Developer With $1 Per Year Base Rent Plus Rent Based On The Appraised $3,760,000 Fair Market Value Of Parcel 2; (3) Making A Surplus Land Act Exemption Determination; And (4) Adopting California Environmental Quality Act Findings

Committee

* Concurrent Meeting of the Oakland Redevelopment Successor Agency and the City Council

Requested by

Economic & Workforce Development Department

Introduced

January 13, 2025

On agenda

February 18, 2025

Passed

February 18, 2025

Enactment no.

13834 C.M.S.

Where it was heard

* Concurrent Meeting of the Oakland Redevelopment Successor Agency and the City Council Feb 18, 2025 Approved for Final Passage Pass * Concurrent Meeting of the Oakland Redevelopment Successor Agency and the City Council Feb 4, 2025 Approved On Introduction and Scheduled for Final Passage Pass *Rules & Legislation Committee Jan 30, 2025 Scheduled *Community & Economic Development Committee Jan 28, 2025 Approved the Recommendation of Staff, and Forward Pass *Rules & Legislation Committee Jan 16, 2025 *Rules & Legislation Committee Jan 16, 2025 Scheduled