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10/25/2004 funds (the "local match ") prior to distribution of the CCHE Grant; and WHEREAS, the Project will benefit the City and the Project Area by assisting to revitalize the downtown core by enhancing the aesthetic, cultural, historic and functional appeal of the Project Area for property owners, residents, visitors, and developers; and WHEREAS, the Project is one phase of a wider redevelopment effort to create a livable, high - density and pedestrian - friendly downtown for the City; and WHEREAS, if City funds cannot be identified, the use of Agency funds as a match for the CCHE Grant will assist in the elimination of blight and is consistent with the implementation plan adopted for the Project Area; and WHEREAS, at this time no other reasonable means of financing the local match for the Project is available to the City. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Redwood City that: 1. The City's CCHE Grant application for the Project is hereby certified as approved: 2. The City requests that, if required, the Agency contribute up to $2,076,799 for the local match for the Project: 3. The City has reviewed the outline of the General Provisions of the CCHE Grant Agreement. 4. The City Manager or his/her designee is appointed as agent of the City to conduct all negotiations with CCHE related to this Grant application; to identify alternative funding sources for the local match; to execute and submit all documents including, but not limited to, applications, agreements, amendments, and payment requests; and to take related actions, including accepting and appropriating any Grant funds received to the Project account, in conformance with this Resolution and its basic purposes. 5. The City Manager or his /her designee is directed to transmit a copy of this Resolution to the CCHE. Atty /Reso /Reso.1492 City CCHE 14614 101904 2 Muff # 404