SAN RAMON -- City leaders hope to sell $3 million in property purchased by the now-defunct redevelopment agency and keep the proceeds.
A 1.2-acre lot at 2231 Omega Road purchased in two parts in 2004 and 2005 for $1.75 million served as the city's recycling center from 1992 to 2008. The redevelopment agency had planned to build a low- to moderate-income housing complex on the site.
Another 1.4-acre property at 9000 Alcosta Blvd. was purchased in 2010 for $1.34 million. The land, which has a vacant bank building on it, was rezoned for a high-density residential development with as many as 63 units, but the project never came to be.
The City Council voted Tuesday to issue a request for proposals for an experienced commercial real estate broker to assist in the sale once property ownership is fully transferred to the city. Payment for the real estate broker would come out of the sale proceeds.
Pat Perry, special projects manager for the city, said the rest of the profits would be deposited into the city's housing program fund, which pays for added security at existing affordable housing projects and continued monitoring and state reporting on past housing covenants.
Gov. Jerry Brown dissolved the 400 redevelopment agencies in the state last year to narrow the state's budget deficit.
Ashly McGlone covers San Leandro, San Lorenzo, San Ramon and the Washington Township Health Care District. Contact her at 510-293-2463. Follow her at Twitter.com/AshlyReports.