AgdaPkt 2010-10-25 - Laserfiche WebLink

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6.1 G Page 2 APN: 052-392-190 Size in Acres: 0.697 Owner of Record: Schrader Leask Development, lnc. Additionally, it is proposed that the public Right-4f-Way known as Chemical Way be conveyed to the County. 5. Property: Chemical Way Right-Of-Way Size in Acres: 0.530 Owner of Record: City of Redwood City Summa of Terms: Option Loan Option Term Purchase Relocation Prepayment Address Payment Deposlt (days) Price Compensation Penalty 20 Chemical Way $2000 $48,000 90+1yr $3,150,040 $1,000,�00 $0 50 Chemical Way $200� $48,000 90+1yr $5,200,000 $0 $500,000 70 Chemical Way $2000 $48,000 90+1yr $2,700,000 $0 $65,000 80 Chemical Wa $2000 $48,000 90+1 r $2,800,000 $50�,000 $0 TOTALS $8,000 $192,000 N/A $13,850,0�0 $1,500 000 $565,000 The option agreements do not commit the City (or the County) to acquire the Chemical Way Site, the County to construct any new jail facilities on the Chemical Way Site, or County to sell or City or Agency to acquire the existing County jail property. The County has retained its own consultant to perform an Initial Study of the proposed replacement jail project under the California Environmental Quality Act (CEQA), and wil( be the lead agency for the purpose of CEQA process and compliance. If following completion of the CEQA analyses and feasibility studies, the City and County desire to proceed with acquisition of the Chemical Way Site and development of a new jail facility at that location, subsequent agreements, permits and discretionary approvals wi[I be needed. Should the Council authorize entering into the four purchase option agreements and the posting of option payments and deposits, and should the County Board of Supervisors take affirmative action related to evaluation of the replacement jail and the alternative site (as early as �ct. 19, 2010), staff will return to the Council within approximately 60 days with a Memorandum of Understanding setting forth the obfigations of the County and of the City and/or the Redevelopment Agency, to evaluate the suitability of the Chemical Way Site as a potential location for a new jail facility, including CEQA review, and if such site is determined to be feasible and the preferred site for such a facility, to exercise the option and move forward with the as related to the disposition of the jail and the purchase and development of the Chemical Way Site. Alternatives 1. The Council could elect to not ratify its approval of the purchase option agreements and the posting of option payments and deposits, and would provide notice to the sellers that the City did not wish to exercise the options. The City would then assume that the County would then proceed with plans to locate the replacement jail within the County campus in Downtown Redwood City;