City Council

3. Approval of Purchase and Sale Agreement and Environmental Determination to Facilitate the Purchase of Property at 904-906 N. Lake Street – Community Development Department 1. Find that the purchase of the real property located at 904-906 N. Lake Street (Property) and continued use of the Property for warehousing and storage uses does not constitute the approval of a “project” under the California Environmental Quality Act (CEQA) because the activity has no potential for resulting in either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment. Furthermore, the activity is exempt from CEQA under the common sense exemption as it can be seen with certainty that there is no possibility that this activity will have a significant effect on the environment. (Pub. Res. Code § 21065, CEQA Guidelines §§ 15060(c)(2)-(3), 15061(b)(3), 15378). As such, no additional environmental analysis is required at this time. 2. Approve the City’s purchase of the Property for $8,200,000. 3. Approve the form of the Purchase and Sale Agreement and Escrow Instructions (Agreement) and authorize staff to continue negotiating the final form as long as no changes are made to increase the purchase price or modify the description of property being purchased, which final Agreement shall be approved as to form by the City Attorney?s Office.