...Title
Actions Related to the Acquisition of Property Located at 32-60 Stockton Avenue.
...Recommendations
Adopt a resolution authorizing the City Manager or designee to:
(a) Negotiate and execute a purchase and sale agreement with Chunhong Liu, Trustee of the Thang Do and Chunhong Liu Revocable Trust dated January 29, 2008, for approximately 1.12 acres (48,830 square feet) of land commonly known as 32-60 Stockton Avenue and located at the northeast corner of Stockton Avenue and Santa Clara Street, identified as Assessor’s Parcel Numbers 259-28-001 and 259-28-002 (Property), for a price of $23,800,000;
(b) Deliver an I.R.S. §1033 letter to seller;
(c) Execute all other documents necessary to effectuate the transfer to the City;
(d) Negotiate and execute all documents and contracts necessary for the relocation of tenants currently occupying 32-60 Stockton Avenue, including approval of the Final Relocation Plan and disbursement of necessary payments as required by relocation statute, not to exceed $350,000; and
(e) Negotiate and execute an amendment to the Cooperative Agreement for San José Diridon Integrated Station to address property acquisitions required for future project needs and maintenance of the property by the City in the interim before it is needed for construction.
CEQA: Not a Project, File No. PP17-003, Agreements/Contracts (New or Amended) resulting in no physical changes to the environment. Council District 6. (Transportation/Economic Development and Cultural Affairs)