City staff presented a nonbinding letter of intent from Power Group LLC (brothers John and Brian Power) proposing to purchase the east Landing parcel and potentially option adjacent parcels. Staff said the proposal would commit up to 25% of housing units to deed‑restricted affordable housing meeting California HCD criteria (50‑year deed restrictions) if the development proceeds.

Staff described the valuation approach: the commercial appraisal used per‑acre rates tied to proposed uses (single‑family, high‑density residential, multifamily) and reported a preliminary purchase‑price range of about $644,000–$683,000 for the east parcel depending on the eventual mix and zoning assumptions. Staff noted the site totals roughly 38 acres for housing on the side referenced, with smaller acreage for high‑density and commercial uses.

Council discussed the affordable share, rental vs. ownership options, appraisal methods and timing; staff said the 25% affordable component and the final purchase price would depend on the development plan and required HCD affordability criteria. The Surplus Land Act process and RFP history were explained as the city pursues qualified affordable‑housing developers.

Councilor Speaker 8 moved to approve a nonbinding proposal to purchase APN 067-010-140 and to approve options for APNs 067-1020 and 067-1010 by the Power Group LLC. The motion passed by voice vote with no opposition recorded.

Why it matters: the Landing is publicly owned land subject to Californias Surplus Land Act processes; a developer option with deed‑restricted affordable units would affect future housing availability, the citys long‑term land disposition and funding for infrastructure. Staff said further public meetings, a master‑planning process funded in part by an EPA brownfields grant, and RFPs would shape final uses and price points.

Provenance: presentation and motion.