...Title
Designation as Surplus Land and Purchase and Sale Agreement of APN 264-43-078.
...Recommendations
Adopt a resolution:
(a) Declaring, and making the requisite findings based on the staff memorandum, the property described as APN 264-43-078 as “surplus real property” pursuant to San José Municipal Code Section 4.20.010(L) and “surplus land” under California. Gov. Code Sect. 54221(b)(1) as the property is surplus to the needs of the City and is not necessary for the City’s use; and
(b) Authorizing the City Manager, or her designee, to negotiate and execute a Purchase and Sale Agreement and Quitclaim Deed, and all other necessary documents to effectuate the property transfer to 288SOLD Realty Inc. from the City of San José, for the sale of APN 264-43-078 for the consideration of $1,486,250, subject to $36,250 payment for commission to the buyer’s broker, pursuant to San José Municipal Code Section 4.20.020 and in accordance with City Council Policy No. 7-13, and subject to a restrictive affordability covenant.
CEQA: Categorically Exempt, File No. ER25-234, CEQA Guidelines Section 15312, Surplus Government Property Sales. Council District 6. (Economic Development and Cultural Affairs)