Subject: East Bay Asian Local Development Corporation Property Sale/Loan Forgiveness From: Housing And Community Development Department Recommendation: Adopt A Resolution Authorizing The City Administrator To Forgive $3,000,000 In Outstanding Principal And All Accrued And Unpaid Interest Owed By East Bay Highland Palms II, LP For The Highland Palms Property, And $5,000,000 In Outstanding Principal And All Accrued And Unpaid Interest Owed By East Bay Capital Fund II, LP For The Eastlake Property, To Preserve Long-Term Affordability Until 2073 And Facilitate The Property Sale To A New Owner

Committee

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

Requested by

Housing And Community Development Department

Introduced

October 29, 2025

On agenda

December 2, 2025

Passed

December 2, 2025

Enactment no.

90970 C.M.S.

Where it was heard

* Concurrent Meeting of the Oakland Redevelopment Successor Agency and the City Council Dec 2, 2025 Adopted Pass *Rules & Legislation Committee Nov 20, 2025 Scheduled *Special Community & Economic Development Committee Nov 18, 2025 Approved the Recommendation of Staff, and Forward Pass *Rules & Legislation Committee Oct 30, 2025 Scheduled