Ordinance 2772CITY OF ALAMEDA ORDINANCE NO. 2772
New Series
APPROVING AND AUTHORIZING THE
SALE OF 10.28 ACRE PARCEL , APN 074-1339-32-
LOCATED WITHIN THE HARBOR BAY ISLE BUSINESS PARK
TO HARBOR BAY ISLE ASSOCIATES
WHEREAS, the City of Alameda is the owner of a 10.28 acre parcel , APN 074-1339-32-
located within the Harbor Bay Isle Business Park; and
WHEREAS , the City of Alameda purchased the propert in December , 1993 , from Harbor
Bay Isle Associates , a general partnership, using funds from Assessment District 92-1 (HarboJ
Bay Isle Business Park); and
WHEREAS, Harbor Bay Isle ssociates , the former owner , has submitted an offer to
repurchase the property for the original price plus the City s out of pocket carrying costs
calculated from the original 1993 purchase though the close of escrow; and
WHEREAS , said real propert is no longer required by the City of Alameda for municipal
purposes and it would be in the public interest to convey said propert back to the original owner
Harbor Bay Isle Associates; and
WHEREAS , Harbor Bay Isle Associates , has submitted a purchase offer of $2 819 980
for the parcel , which reflects today s market value of the propert plus full reimbursement for all
carring costs (including paid assessments) on the parcel that the City of Alameda has incurred
from December 1993 up to the opening of escrow; and
WHEREAS , Harbor Bay Isle Associates has agreed to reimburse the City an additional
amount for carrying costs incurred by the City between opening of escrow and the close of
escrow; and
WHEREAS , Harbor Bay Isle Associate s offer of $2 819 980 (less closing costs , including
seller s title insurance and transfer tax), plus additional reimbursement for carrying costs from
opening of escrow up through the close of escrow , would be deposited into the Assessment
District 92-1; and
WHEREAS , pursuant to City Charter section 3-, no real property of the City shall be
leased for a period in excess of one year or sold , except upon the affirmative vote of four
members of the City Council.
NOW , THEREFORE , BE IT ORDAINED by the Council of the City of Alameda and
upon the affirmative vote of four members that:
Section I.The City Manager of the City of Alameda, be , and is hereby authorized
to execute the Purchase and Sale Agreement in a form substantially similar to that Purchase and Sale
Agreement on file in the office of the City Clerk, for and on behalf of the City of Alameda, the sale
of the 10.28 acre parcel , APN 074-1339-32-, located within the Harbor Bay Isle Business Park for
a purchase price of no less than $2 8 19.980 , plus reimbursement for carring costs incurred by the
City ITom the opening of escrow through the close of escrow, (less closing costs , including seller
title insurance and transfer tax).
Section 2.This Ordinance shall be in full force and effect from and after the
expiration of thirty (30) days from the date of its final passage.
Attest:
City Clerk
******
, the undersigned, hereby certify that the foregoing Ordinance was duly and regularly adopted
and p sed by the Council of the City of Alameda in regular meeting assembled on the 21st day
of July,1998 , by the following vote to wit:
AYES:Councilmembers Daysog, DeWitt, Lucas and
President Appezzato - 4.
NOES:None.
ABSENT:Councilmember Kerr - 1.
ABSTENTIONS:None.
IN WITNESS , WHEREOF , I have hereunto set my hand and affixed the official seal of said City
this 22nd day of July 1998.
Diane Felsch , City Clerk
City of Alameda