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8.A <br /> Page 3 <br /> Should the Council authorize entering into the four purchase option agreements and the <br /> posting of option payments and deposits, and should the County Board of Supervisors <br /> take affirmative action related to evaluation of the replacement jail and the alternative <br /> site (as early as Oct. 19, 2010), staff will return to the Council within approximately 60 <br /> days with a Memorandum of Understanding setting forth the obligations of the County <br /> and of the City and/or the Redevelopment Agency, to evaluate the suitability of the <br /> Chemical Way Site as a potential location for a new jail facility, including CEQA review, <br /> and if such site is determined to be feasible and the preferred site for such a facility, to <br /> exercise the option and move forward with the as related to the disposition of the jail <br /> and the purchase and development of the Chemical Way Site. <br /> Alternatives <br /> 1. The Council could elect to not approve the purchase option agreements and the <br /> posting of option payments and deposits, and assume that the County would <br /> then proceed with plans to locate the replacement jail within the County campus <br /> in Downtown Redwood City; <br /> 2. The Council could delay consideration of the purchase option agreements and <br /> provide additional or different direction to staff; <br /> 3. The Council could direct staff to negotiate different terms and conditions with the <br /> property owners, which would cause a delay of unknown length and <br /> consequences. <br /> Fiscal Impact <br /> Funds for this project were appropriated in the Fiscal Year 2010/11 Redevelopment <br /> Agency Capital Improvement Program budget in the amount of $332,000.00. This <br /> budget will require a mid-year adjustment to cover additional expenditures as well as <br /> un-budgeted revenues in the form of reimbursement of costs to the City by the County. <br /> The terms and amounts of reimbursement will be described and recommended in the <br /> pending Memorandum of Understanding, and the Council will act on the budget <br /> adjustments at the time that the MOU is considered. <br /> Peter C. In am, City Manager <br /> Attachments <br /> 1. Chemical Way Site Map <br /> Complete documents available in City Clerk's office: <br /> 1. Real Estate Option Agreement- 20 Chemical Way <br /> 2. Real Estate Option Agreement - 50 Chemical Way <br /> 3. Real Estate Option Agreement- 70 Chemical Way <br /> 4. Real Estate Option Agreement - 80 Chemical Way <br />