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The agreement frames the sale for development and operation of a full service supermarket as part of an affordable housing mixed-use project, addresses public purpose findings, and requires covenants that bind successors and prioritize restrictions against lenders’ liens. It includes definitions and begins outlining agreement structure.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/purchase-and-sale-agreement-covenants-and-joint-escrow-instructions-94th-and-broadway-supermarket-project/277832/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/purchase-and-sale-agreement-covenants-and-joint-escrow-instructions-94th-and-broadway-supermarket-project/277832.png","ImageObject",442,249,{"name":88,"@type":89},"Violet","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-26","2026-09-15",true,{"@type":98,"interactionType":99,"userInteractionCount":15},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"Who are the parties to the Agreement?","Question",{"text":108,"@type":109},"The City of Los Angeles and 94th and Broadway, LLC are the parties to the Purchase and Sale Agreement, Covenants and Joint Escrow Instructions.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"What property is covered by the Agreement?",{"text":113,"@type":109},"The Agreement covers an unimproved parcel of real property located at 9402-9422 South Broadway Street, Los Angeles, California 90003, approximately 89,824 square feet.",{"name":115,"@type":106,"acceptedAnswer":116},"What is the purpose of the sale under the Agreement?",{"text":117,"@type":109},"The sale is intended to support development and operation of a full service supermarket as part of the Broadway Villas Senior Housing project and other adjoining affordable housing developments, not for land speculation.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},277832,1790040910,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":15,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":135,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":140,"read_time":141},4398048950312,"https://ap-avatar.wpscdn.com/avatar/400002538284de19e3c?_k=1778320343897328908","PURCHASE AND SALE AGREEMENT, COVENANTSAND JOINT ESCROW INSTRUCTIONS  \n(94TH AND BROADWAY SUPERMARKET PROJECT) BY AND BETWEEN  \nTHE CITY OF LOS ANGELES  \nAND  \n94TH AND BROADWAY, LLC  \nRELATING TO  \n9402-9422 SOUTH BROADWAY STREET, LOS ANGELES CA 90003  \nPURCHASE AND SALE AGREEMENT, COVENANTS AND JOINT ESCROW INSTRUCTIONS  \n(94TH AND BROADWAY SUPERMARKET PROJECT)  \nThis Purchase and Sale Agreement, Covenants and Joint Escrow Instructions (the \"Agreement\") is dated as of this   day of   , 2015 , for identification purposes and is entered into by and between The City of Los Angeles, a municipal corporation (“City”), and 94th and Broadway, LLC, a California limited liability company (\"Buyer\") .  \nWHEREAS, the City is the fee owner of that certain unimproved parcel of real property measuring approximately Eighty Nine Thousand Eight Hundred Twenty Four (89,824) square feet and located at 9402-9422 South Broadway Street , Los Angeles California 90003 (“Property”), as more particularly described in Exhibit “1”;  \nWHEREAS, the Property was transferred to the City by the City’s former Community Redevelopment Agency (“CRA/LA”) as an affordable housing asset for the development of a mixed use affordable housing/supermarket store project (“Housing Project”);  \nWHEREAS, the Property constitutes a portion of an approximately 4.2 acre affordable housing site which has already been developed with three affordable housing projects, including the housing portion of the Housing Project (49-unit Broadway Villas Senior Project);  \nWHEREAS, the Housing Project is fully entitled and has been reviewed and approved under CEQA (ENV-2011-1451 MND) for the development of the Supermarket;  \nWHEREAS, the surrounding community is devoid of full service grocery stores and the City Council has determined that the Supermarket is not only a vital and integral part of the Housing Project but is also vital to other affordable housing projects and will serve low income households within the community ;  \nWHEREAS, on June 24 , 2015 , the Los Angeles City Council, under Council File 11-0054-S2 , held a noticed public hearing as required by Health and Safety Code Section 33433 and Government Code 53083 regarding the proposed below market sale of the Property to Buyer;  \nWHEREAS, subsequent to the public hearing the City Council adopted aresolution finding that the sale of the Property at its Fair Ruse Value serves one or more  \npublic purposes and authorizing the sale of the Property to the Buyer in accordance with Los Angeles Administrative Code Section 7.27.2 and California Health and Safety Code Section 33433 to Buyer for development of the Property as full service Supermarket (the “Project”);  \nWHEREAS, the City has determined that the direct sale of the Property to Buyer for the development of the Project in accordance with the terms and conditions set forth herein will serve one or more vital governmental public purposes and is in the vital and best interests of the City and serves the health, safety, morals and welfare of the residents of the City in that it would; i) eliminate current or potential future physical blight by developing a vacant underutilized parcel and replacing it with the Project; ii) would help alleviate economic blight in the community by creating temporary construction jobs and approximately seventy (70) permanent Living Wage Jobs once the Project is completed; iii) ; would create a new full service grocery store offering a wide variety of fresh food at a more affordable price to an underserved portion of the City and thereby encourage further private and public economic development in an around the community; and iv) will help generate new tax and private revenue within the community, for residents, businesses as well as state and local government.  \nARTICLE 1 SUBJECT OF AGREEMENT.  \n1.1  Purpose of Agreement.  \n(a) The purpose of this Agreement is to promote economic development in the City of Los Angeles by providing for the disposition ","cbCaiuwSNKEUcL9g","https://ap.wps.com/l/cbCaiuwSNKEUcL9g","pdf",331739,79,"English","# Article 1 Subject of Agreement\n## 1.1 Purpose of Agreement\n# Article 2 Definitions","[{\"question\":\"Who are the parties to the Agreement?\",\"answer\":\"The City of Los Angeles and 94th and Broadway, LLC are the parties to the Purchase and Sale Agreement, Covenants and Joint Escrow Instructions.\"},{\"question\":\"What property is covered by the Agreement?\",\"answer\":\"The Agreement covers an unimproved parcel of real property located at 9402-9422 South Broadway Street, Los Angeles, California 90003, approximately 89,824 square feet.\"},{\"question\":\"What is the purpose of the sale under the Agreement?\",\"answer\":\"The sale is intended to support development and operation of a full service supermarket as part of the Broadway Villas Senior Housing project and other adjoining affordable housing developments, not for land speculation.\"}]","Purchase and Sale Agreement - Covenants and Joint Escrow Instructions - 94th and Broadway Supermarket Project | PDF",1789504448,28]