
According to the latest agenda, the San Leandro City Council will meet on Feb. 6th to discuss the price and terms of payment for the former Albertson’s property to developer David Irmer (president of Innisfree Co.), who plans to turn it into a strip mall. Apparently, the City Council has already quietly agreed to sell the property to him. The City bought the property for $6M in April 2009 and then immediately turned it over to Irmer to develop. Three years later, it is selling it to Irmer for about $2.5M*, 60% less than it paid for it and a [Continue Reading]