3.13 26-0161 Subject: East Bay Asian Local Development Corporation Property Sale/Loan Forgiveness From: Housing And Community Development Department Recommendation: Adopt A Resolution Authorizing The City Administrator To Forgive $3,000,000 In Outstanding Principal And $661,042 In Accrued Interest Owed By East Bay Highland Palms II, LP For The Highland Palms Property, And $5,000,000 In Outstanding Principal And $1,094,490 In Accrued Interest Owed By East Bay Capital Fund II, LP For The Eastlake Property, To Preserve Long-Term Affordability Until 2073 And Facilitate Their Sale To A New Owner; On The October 28, 2025 Community And Economic Development Committee Agenda - City of Oakland

Meeting: *Rules & Legislation Committee on 2025-10-16 10:30 AM

Meeting Time: October 16, 2025 at 10:30am PDT

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Agenda Item

3.13 26-0161 Subject: East Bay Asian Local Development Corporation Property Sale/Loan Forgiveness From: Housing And Community Development Department Recommendation: Adopt A Resolution Authorizing The City Administrator To Forgive $3,000,000 In Outstanding Principal And $661,042 In Accrued Interest Owed By East Bay Highland Palms II, LP For The Highland Palms Property, And $5,000,000 In Outstanding Principal And $1,094,490 In Accrued Interest Owed By East Bay Capital Fund II, LP For The Eastlake Property, To Preserve Long-Term Affordability Until 2073 And Facilitate Their Sale To A New Owner; On The October 28, 2025 Community And Economic Development Committee Agenda