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To All Interested Parties:
As required by Government Code Section 54220 et seq. of the State of California, the City of Hayward (hereinafter, “City”) is providing this Notice of Availability that it intends to sell or lease the surplus property listed below (hereinafter, “Property”):
Property: Cinema Place
Address: 22631 Foothill Boulevard, Hayward, CA 94541
APNs: 428-0066-085 & 428-0066-086-00
Description: Approximately 1.54-acre mixed-use retail and entertainment property improved with a two-story building totaling approximately 52,928 square feet, located in Downtown Hayward.
The City intends to dispose of the Property at Fair Market Value (FMV), which may include either a fee simple sale or a long-term ground lease.
Please note: The Hayward Economic Development Corporation (HEDC) currently holds a ground lease interest in the Property, which commenced on May 1, 2007 with an initial term of fifty (50) year and includes the right to extend the term for two (2) additional five (5) year periods. The ground lease is currently set to terminate April 30, 2057. As part of any transaction, HEDC would consider selling its ground lease interest or coordinating with the City on a disposition of the Property.
In accordance with Government Code Section 54222, you have up to sixty (60) days from the date this notice was sent to notify the City of your interest in acquiring or leasing the Property. This notice does not obligate the City to sell or lease the Property to any responding party. Instead, the City will enter into at least ninety (90) days of good faith negotiations with any responding entity pursuant to Government Code Section 54223. If no agreement is reached, the City may proceed to market the Property to the general public.
As required by Government Code Section 54227, if more than one letter of interest is received, priority will be given to proposals that include affordable housing in accordance with the Surplus Land Act.
If your agency or organization is interested, written notice must be received within sixty (60) days of this notice. Such response may be provided in writing or by email. Responses and inquiries should be directed to:
Tracy Irvin
Real Property Manager
City of Hayward
777 B Street, 4th Floor
Hayward, CA 94541
Tracy.irvin@hayward-ca.gov
510-583-5369
Entities are encouraged to review the Surplus Land Act (Government Code Section 54220–54234) prior to submitting a response.
Respectfully,
C. Tracy Irvin
Real Property Manager
Office of City Manager, City of Hayward |
