Official source link unavailable.
The file was imported, but the current source metadata does not include a public document URL.
Generated summaryAI-assisted
The source text indicates this attachment appears to be a draft document.
The memorandum discusses the designation of property APN 264-43-078 as surplus land and the authorization for the City Manager to negotiate a sale agreement with 288SOLD Realty Inc. The property is 24,079 square feet and is adjacent to railroad tracks. The City Council previously declared the property surplus in 2009. The sale is subject to an affordability covenant requiring that at least 25% of the developed units be affordable. The net proceeds from the sale will be credited to the General Fund.
Key points
Property APN 264-43-078 is designated as surplus land.
The City Manager is authorized to negotiate a sale agreement with 288SOLD Realty Inc.
The property is 24,079 square feet and is adjacent to railroad tracks.
The City Council previously declared the property surplus in 2009.
The sale includes an affordability covenant requiring at least 25% of units to be affordable.
Net proceeds from the sale will be credited to the General Fund.
Limitations
The document appears to be a draft.
Specific dates and amounts related to the sale are mentioned but not fully detailed.
No commission recommendation or input is associated with this action.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 6,248 chars
COUNCIL AGENDA: FILE: ITEM: DEPARTMENT(S) City Manager’s Office of Economic Development and Cultural Affairs COUNCIL DISTRICT(S) 6 11/18/25 25-1194 2.11 CITY COUNCIL ACTION REQUEST CEQA COORDINATION Director Approval Categorically Exempt, City Attorney's Office, File No. ER25-234, City Manager’s CEQA Guidelines Budget Office, and the Jen Baker Section 15312, Departments of Surplus Government Housing, Parks, CMO Approval Property Sales. Recreation, and Neighborhood Services, Planning, Building, and Code Enforcement, Public Works, and 11/4/25 Transportation. SUBJECT: Designation as Surplus Land and Sale Agreement of APN 264-43-078 RECOMMENDATION Adopt a resolution: (a) Declaring, and making the requisite findings based on this memorandum, the property described as APN 264-43-078 as “surplus real property” pursuant to San José Municipal Code Section 4.20.010(L) and “surplus land” under California Government Code Section 54221(b)(1) as the property is surplus to the needs of the City and is not necessary for the City’s use; and (b) Authorizing the City Manager, or her designee, to negotiate and execute a Purchase and Sale Agreement and Quitclaim Deed, and all other necessary...
Official source link unavailable.
The file was imported, but the current source metadata does not include a public document URL.
Generated summaryAI-assisted
The source text indicates this attachment appears to be a draft document.
This resolution declares the property identified as APN 264-43-078 as surplus real property and surplus land, authorizing the City Manager to negotiate and execute a purchase and sale agreement with 288SOLD Realty Inc. for the property. The resolution includes provisions for a restrictive affordability covenant requiring a minimum of 25% of the developed units to be affordable. The property is vacant land adjacent to railroad tracks, with a portion deemed buildable. The resolution is intended to comply with updated requirements of the California Surplus Lands Act.
Key points
Property APN 264-43-078 is declared surplus real property and surplus land.
City Manager is authorized to negotiate a sale to 288SOLD Realty Inc.
Sale price is set at $1,486,250 with a $36,250 commission to the buyer's broker.
A minimum of 25% of units developed on the property must be affordable.
The property is vacant land with a portion that is buildable.
Limitations
The document appears to be a draft, as indicated by the repeated mention of 'DRAFT' and instructions to contact the City Clerk for the final document.
The resolution lacks specific adoption date and vote details.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 6,097 chars
NVF:CHD:CAG 11/6/2025 RESOLUTION NO. ______________ A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN JOSE (1) DECLARING THE PROPERTY DESCRIBED AS APN 264-43-078 AS “SURPLUS REAL PROPERTY” PURSUANT TO SAN JOSE MUNICIPAL CODE SECTION 4.20.010(L) AND “SURPLUS LAND” UNDER CALIFORNIA GOVERNMENT CODE SECTION 54221(B)(1); AND (2) AUTHORIZING CITY MANAGER OR DESIGNEE TO NEGOTIATE AND EXECUTE A PURCHASE AND SALE AGREEMENT AND QUITCLAIM DEED, AND ALL OTHER NECESSARY DOCUMENTS TO EFFECTUATE THE PROPERTY TRANSFER TO 288SOLD REALTY INC. FROM THE CITY, FOR THE SALE OF APN 264-43-078 FOR THE CONSIDERATION OF $1,486,250, SUBJECT TO $36,250 PAYMENT FOR COMMISSION TO THE BUYER’S BROKER, PURSUANT TO SAN JOSE MUNICIPAL CODE SECTION 4.20.020 AND IN ACCORDANCE WITH CITY COUNCIL POLICY NO. 7-13, AND SUBJECT TO A RESTRICTIVE AFFORDABILITY COVENANT WHEREAS, the City-owned property known as APN 264-43-078 (Property) is 24,079 square feet (0.55 acres) and is vacant land adjacent to railroad tracks; and WHEREAS, a 20,721 square foot portion of the Property is buildable, due to constraints imposed by a steep slope on the eastern side fronting Bird Avenue; and WHEREAS, the City Council previously declared the...