Title
Recommendation to Approve Sale of City-Owned Property Located at 650 West Ranger Avenue (Building 92) at Alameda Point to Ernst Development Partners, Inc. and Authorize the City Manager to Execute a Purchase and Sale Agreement and Related Documents;
Public Hearing to Consider Adoption of Resolution Declaring Approximately 3.56 Acres of City-Owned Property at Alameda Point Located at 650 West Ranger Avenue to Be Exempt Surplus Land under the Surplus Land Act; and
Introduction of Ordinance Approving a Purchase and Sale Agreement for the Sale of City-Owned Property Located at 650 West Ranger Avenue (Building 92) to Ernst Development Partners, Inc., and Authorizing the City Manager to Execute the Purchase and Sale Agreement and Related Documents. [Requires four affirmative votes] (Base Reuse and Economic Development 29061822)
Body
To: Honorable Mayor and Members of the City Council
From: Adam W. Politzer, Interim City Manager
EXECUTIVE SUMMARY
The City of Alameda (City) owns Building 92 located at 650 West Ranger Avenue within Alameda Point, the site of the former Naval Air Station Alameda. The property includes an approximately 89,018-square-foot, World War II-era industrial warehouse building situated on approximately three acres. As part of the City's strategy to activate underutilized buildings and support job-generating economic activity at Alameda Point, the City issued a Request for Proposals (RFP) seeking qualified buyers interested in acquiring and rehabilitating the property.
Following a competitive evaluation process and direction from the City Council in closed session, staff negotiated a Purchase and Sale Agreement (PSA) with Ernst Development Partners, Inc. for the purchase of the property for $7,825,000. The buyer intends to rehabilitate and reposition the building for advanced manufacturing, research and development, and light industrial uses.
As a condition of the transaction, the purchaser will enter into a Public Improvement Agreem...
Click here for full text