4 25-0420 Subject: East 12th Street Remainder Parcel 2 LDDA & Ground Lease From: Economic And Workforce Development Department Recommendation: Adopt An Ordinance: (1) Authorizing The City Administrator To Negotiate And Execute A Lease Disposition And Development Agreement Between The City Of Oakland ("City") And Satellite Affordable Housing Associates Or Its Affiliate ("Developer"), For Development Of 94 Units Of Affordable Housing On A Portion Of The 12th Street Remainder ("Parcel 2"), Located At East 12th Street And 2nd Avenue, With A Term Of Three Years With A One-Year Extension; (2) Authorizing The City Administrator To Negotiate And Execute A 99-Year Ground Lease Between The City And Developer With $1 Per Year Base Rent Plus Rent Based On The Appraised $3,760,000 Fair Market Value Of Parcel 2; (3) Making A Surplus Land Act Exemption Determination; And (4) Adopting California Environmental Quality Act Findings