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REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br />To the Honorable Chair and Agency Board <br />From the Executive Director <br /> <br />February 13, 2017 <br /> <br />SUBJECT <br />Execution of Grant Deeds and an Agreement for the Transfer of Property Interests from <br />the Successor Agency to the City of Redwood City for Governmental Use <br /> <br />RECOMMENDATION <br />By motion of the Successor Agency Board, approve and authorize the Executive <br />Director to execute on behalf of the Successor Agency <br /> <br />1. Grant Deed for the Library Parking Parcel; <br />2. Grant Deed for the Lathrop Culvert Parcel; <br />3. Courthouse Rescission of Assignment Agreement; and <br />4. Any further documents necessary to effectuate the transfers of property <br /> <br />By motion of the City Council, approve and authorize the Mayor to execute on behalf of <br />the City <br />1. Certificate of Acceptance of the Grant Deed for the Library Parking Parcel; <br />2. Certificate of Acceptance of the Grant Deed for the Lathrop Culvert Parcel; <br />3. Courthouse Rescission of Assignment Agreement; and <br />4. Any further documents necessary to effectuate the transfers of property <br /> <br />BACKGROUND <br />In 2011, the State of California adopted legislation (AB 26) to dissolve local <br />redevelopment agencies. This legislation, and subsequent clarifying legislation (AB <br />1484 and SB 107), is referred to as the Redevelopment Dissolution Statutes. The <br />Statutes govern the disposition of real property assets of the dissolved <br />redevelopment agency. Under the Statutes, property previously owned by the <br />Redevelopment Agency, and now owned by the Successor Agency, and used for a <br />governmental purpose may be transferred at no cost to the City. The City must retain <br />and continue to use for the property for governmental purposes. <br /> <br />The Successor Agency has a total of five property interests that include kiosks, a <br />pedestrian thoroughfare, public parking, open space, and maintenance and <br />operational staging areas. Three properties were obtained through fee, and their <br />current values are unknown. One property interest was obtained through an easement <br />6.1.E. - Page 1