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7.3.B. - Page 4 <br /> RESOLUTION NO. <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br /> REDWOOD CITY APPROVING, AND AUTHORIZING THE CITY <br /> MANAGER TO EXECUTE, A PROPERTY AGREEMENT <br /> BETWEEN THE CITY OF REDWOOD CITY AND GREYSTAR <br /> GPII LLC FOR APNs 053 - 171 -060 & 070 <br /> WHEREAS, Applicant, Greystar GPII LLC has submitted an application for <br /> a Planned Community Permit for a 175 -Unit Housing Project located on Wilson <br /> Street and Franklin Street (the Project) which is within the Downtown Precise <br /> Plan area; and <br /> WHEREAS, the City of Redwood City (City) owns that certain real <br /> property generally located along Jefferson Avenue (City Property), which makes <br /> up a portion of the Project proposed by Applicant; and <br /> WHEREAS, Applicant desires to acquire the City Property from the City <br /> and develop the Project; and <br /> WHEREAS, in 2010, an Environmental Impact Report (State <br /> Clearinghouse #2006052027) was prepared to assess potential impacts resulting <br /> from the implementation of the DTPP. The DTPP established new land use, <br /> development, and urban design regulations for the 183 -acre DTPP area for a 20- <br /> year planning period, including the potential for up to 2,500 residential units. The <br /> DTPP Environmental Impact Report (EIR) was certified by the City Council on <br /> January 24, 2011; and <br /> WHEREAS, an Initial Study checklist has been prepared to consider <br /> whether any new effects not identified in the DTPP EIR may be created by <br /> construction of the proposed project. The Initial Study checklist confirmed that <br /> the proposed project would not result in new environmental impacts beyond <br /> those previously identified in the DTPP EIR; and <br /> WHEREAS, on September 2, 2014, the Planning Commission reviewed <br /> the proposed sale of City -owned property for consistency with the General Plan <br /> and Downtown Precise Plan; and <br /> WHEREAS, on September 2, 2014, the Planning Commission <br /> recommended to the City Council that the sale of City -owned property for the use <br /> of housing was consistent with the General Plan and Downtown Precise Plan <br /> and <br /> WHEREAS, the City Council has determined that the Property Disposition <br /> Agreement between the City of Redwood City and Greystar GPII, LLC, attached <br /> hereto as Exhibit A, would further the purposes of and appropriately implement <br /> the City of Redwood City General Plan, and the Downtown Precise Plan. <br /> ATTY /RES0.3024 /CC AUTHORIZING MGR TO EXECUTE PDA BETWEEN RWC AND GREYSTAR <br /> REV: 10 -01 -14 VR <br /> Page 1 of 4 <br />