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D. Authorize the City Manager to enter into relocation agreements with tenants to satisfy the requirements of California Government Code §7260 et seq.; and E. Authorize the City Manager to execute all documents related to close of escrow (if contingencies are met or waived, and terms of the purchase agreement are satisfied). The purchase agreement provides that if contingencies are not satisfied or waived within the set time limits, the City may cancel the purchase of the property and the $90,000 deposit will be returned to the City.3 If contingencies are met, close of escrow is anticipated by the end of this calendar year. Thereafter, based on the terms of the leases with the existing tenants and requirements of state law, it is anticipated that the tenants generally will vacate as leases expire or are not renewed, and the buildings will eventually be removed. It is possible that negotiated relocation agreements could include provisions for longer periods of occupancy by the existing tenants. Simultaneously, the City Council, Parks and Recreation Commission, in consultation with the Pleasanton Downtown Association and neighboring residents and businesses, will explore options for the parcel that enhance Downtown. As the final use of the property would be subject to such future consideration and study, the proposed acquisition is not currently subject to review under the California Environmental Quality Act. (See Title 14 Cal. Code of Regs. §15004(b)(2).) Submitt by: Reviewed by:,X,k Approve by: 74._ Brian Dolan Tina Olson Nelson Fialho Assistant City Manager Director of Finance City Manager Attachments: 1. Contingent Purchase and Sale Agreement 2. Contract with Autotemp Services (relocation consultants) 3. Contract with AEI Consultants (environmental consultants) The deposit is technically subject to forfeit in the unlikely event the City ignores deadlines or fails to meet other requirements of the agreement. Page 4 of 4