4.8 14-0662 Subject: DDA For 12th Street Remainder Parcel From: Economic Workforce And Develpment Department Recommendation: Adopt An Ordinance Authorizing: (1) The City Administrator, Without Returning To The City Council, To Negotiate And Execute A Disposition And Development Agreement And Related Documents Between The City Of Oakland, And A Development Entity Comprised Of Urbancore Development, LLC And UDR, Inc., (Or Its Related Entities Or Affiliates) For Sale Of The 12th Street Remainder Parcel Located At E12th Street And 2nd Avenue For No Less Than $5.1 Million And Development As A Residential Mixed-Use Project, All Of The Foregoing Documents To Be In A Form And Content Substantially In Conformance With The Term Sheet Attached As Exhibit A; (2) Set-Aside Of No More Than $250,000 From Land Sales Proceeds For Remediation Of Property, And (3) Appropriation Of $200,000 From Land Sales Proceeds To Fund An Asset Portfolio Management Plan; On The March 24, 2015 Community And Economic Development Committee Agenda