NOTICE AND DIGEST
AN ORDINANCE AUTHORIZING THE CITY ADMINISTRATOR TO NEGOT I-
ATE AND EXECUTE A PURCHASE AND SALE AGREEMENT WITH T HE COUNTY OF ALAMEDA TO ACQUIRE THE COUNTY’S UNDIVIDED 5 0 PER- CENT INTEREST IN THE MALIBU PROPERTY, LOCATED AT 8000 SOUTH
COLISEUM WAY, OAKLAND, CALIFORNIA, FOR EIGHT MILLION SE VEN HUNDRED THOUSAND DOLLARS ($8,700,000) BASED ON THE COUNTY’S
APPRAISED FAIR MARKET VALUE, WITH INTEREST FREE, SELLER - FINANCING TO BE PAID WITH 50 PERCENT OF PROPERTY REVENU ES;
AND ADOPTING CALIFORNIA ENVIRONMENTAL QUALITY ACT FINDINGS AnOrdinanceauthorizingtheCityAdministratorton egotiateandexe- cuteofaPurchaseandSaleAgreementwiththeCounty ofAlameda (“County”)toacquireits50percentundividedinter estintheMalibu PropertyforEightMillionSevenHundredThousandDollars($8,700,000) (“AcquisitionPrice”)basedontheCounty’sappraised fairmarketval- ue,withinterestfree,seller-financingtobepaid with50percentofthe propertyrevenuesastheyaregenerated,whetherby lease,licenseor othermeans,untiltheAcquisitionPriceispaidinf ull;andadopting CaliforniaEnvironmentalQualityActfindings.
Notice of Publication
ThisOrdinancewasintroducedattheCityCouncilmeet ing,Tuesday eveningApril 30, 2024 ,andpassedtoprint7 Ayes 1 Excused Fife .Final adoptionhasbeenscheduledfortheCityCouncilmeet ing Tuesday, May 7, 2024, 3:30 P.M. ,atOneFrankH.OgawaPlaza,CouncilChamber, 3rdfloor,Oakland,CaliforniaandviaTeleconference.
Threefullcopiesareavailableforuseandexaminationbythepublicin theOfficeoftheCityClerkatOneFrankH.OgawaPlaza,1stfloor,Oak- land,California.
ASHAREED,CityClerk
OT 6826552; May 3, 2024