Subject: Authorization For First Amendment To LDDA With Liberation Park Residences From: Economic And Workforce Development Department Recommendation: Adopt An Ordinance Authorizing The City Administrator To Negotiate And Execute An Amendment To The Lease Disposition And Development Agreement With Liberation Park Residences, L.P., For A Portion Of City-Owned Property Located At 73rd Avenue And Foothill Boulevard (Parcel 2), To Revise The Ground Lease Terms Of Rent Payment By Replacing The Provision Of A 55-Year Capitalized Loan In The Amount Of $1,505,004 At A 3% Interest Rate With An Annual Ground Rent Payment Of $90,331 Capped At $1,505,004, To Be Paid To The City During The 99-Year Ground Lease Term

What this record is

Amount

$1.51M

Runs until

Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗

Type

amendment

Field

Real estate

real estate contracts in CA that end within a year →
Governments publish the end date in the award. That date is when the work goes back out to bid, and it is usually stated years ahead.

Read automatically from the title of the official record. The source document below is authoritative.

Committee

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

Requested by

Economic & Workforce Development Department

Introduced

April 22, 2025

On agenda

June 3, 2025

Passed

June 3, 2025

Enactment no.

13845 C.M.S.

Where it was heard

Concurrent Meeting of the Oakland Redevelopment Successor Agency/City Council/Geologic Hazard Abatement District Board Jun 3, 2025 Approved for Final Passage Pass Special Concurrent Meeting of the Oakland Redevelopment Successor Agency/City Council May 20, 2025 Approved On Introduction and Scheduled for Final Passage Pass *Rules & Legislation Committee May 15, 2025 Scheduled *Community & Economic Development Committee May 13, 2025 Approved the Recommendation of Staff, and Forward Pass *Rules & Legislation Committee Apr 24, 2025 Scheduled

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