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Resolution approving a Purchase and Sale Agreement with Genentech, Inc. for the disposition of the vacated public streets Cabot Road, Point San Bruno Boulevard, and DNA Way located entirely within the Genentech Campus for the sum of $25,000,000 and authorizing the City Manager to execute the Purchase and Sale Agreement.
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WHEREAS, the City is the owner of certain real property (the "Property") located in the City of South San Francisco, California, known as Cabot Road, Point San Bruno Boulevard, and DNA as described and depicted in Exhibit A and Exhibit B to the Purchase and Sale Agreement, attached hereto and incorporated herein as Attachment 1; and
WHEREAS, on November 24, 2020, and December 1, 2020, the City Council of the City of San South San Francisco unanimously approved the Genentech Campus Master Plan Update project, which approval included, but was not limited to, adoption of the Development Agreement, certification of that certain Environmental Impact Report for the Genentech Master Plan Update (State Clearinghouse No. 2017052064), approval of that certain Genentech Master Plan Update ("Master Plan"), and approval of certain amendments to the City's Genentech Master Plan Zoning District so as to facilitate implementation of the Master Plan; and
WHEREAS, the Master Plan articulates a vision for new growth and development within the Campus that fosters intensification of development and infill development by serving as a general guide for the future placement and design of individual buildings and other Campus improvements over time. Because the Master Plan is an overall development that provides the basis for future approvals, it provides for flexibility during implementation. Rather than establishing the location, size, or design of individual buildings and improvements, the Master Plan authorizes such details to be developed in conjunction with future Campus-related land use approvals proposed by Genentech and approved by City in ac...
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