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Title:
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Resolution 1) approving and authorizing the Director of Property to acquire certain real property located at 1660 and 1670 Mission Street (“Property”); 2) approving and authorizing an Agreement of Purchase and Sale for Real Estate for the acquisition of the Property for the purchase price of $18,500,000 plus an estimated $30,000 for typical closing costs, for a total amount of $18,530,000 from 290 Division (EAT) LLC, 1660 Mission LLC, a California limited liability company, and Skyline Capital, a Wyoming limited liability company (“Purchase Agreement”); 3) authorizing the Director of Property to execute the Purchase Agreement, make certain modifications, and take certain actions in furtherance of this Resolution and the Purchase Agreement, as defined herein, effective upon approval of this Resolution; 4) affirming the Planning Department’s determination under the California Environmental Quality Act; and 5) adopting the Planning Department’s findings that the Purchase Agreement, and the transaction contemplated therein, is consistent with the General Plan, and the eight priority policies of Planning Code, Section 101.1.
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