7. Recommended by Office of the Chief Administrative Officer Approval of Purchase and Sale Agreement and Joint Escrow Instructions for the Purchase of Real Property Located at 865 South Figueroa Street, Los Angeles, California 90017; 930 W. 8th Place, Los Angeles, CA 90017; and 825 James M. Wood Boulevard, Los Angeles, CA 90015. The cost is a one-time purchase of $92,500,000, plus escrow fees, customary closing costs, property maintenance costs, property management and operation costs, and related expenses. Determine item is exempt pursuant to CEQA Guidelines Section 15060(c)(2). City Council approval is required.