AgdaPkt 2017-09-25 Closed and Joint SA PFA

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ATTY/RESO.0090/CC RESO APPROVING & AUTHORIZING THE CITY MANAGER TO EXECUTE BRADFORD DDA REV: 09-18-17 PR Page 1 of 2 RESOLUTION NO. _____ A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY APPROVING, AND AUTHORIZING THE CITY MANAGER TO EXECUTE, A DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE CITY OF REDWOOD CITY AND MP BRADFORD ASSOCIATES, L.P. FOR 707 BRADFORD STREET WHEREAS, the City of Redwood City (the “City”) owns and/or controls the real property situated within the boundaries of the City’s Downtown Precise Plan located on Bradford Street between Main Street and Jefferson Street, known as San Mateo County Assessor’s Parcel Nos. 052-372-200, 052-372-170, 052-372-240, 052-372-999 (the “Property”). A portion of the Property was conveyed to the City in trust and is subject to certain reserved rights held by the State of California; and WHEREAS, in June 2015, the City solicited proposals for development of the Property with affordable rental housing, a child care center, a publicly-accessible creek-side trail, and other development objectives; and WHEREAS, between December 2015 and March 2016, the City evaluated development proposals for the Property, and based upon such evaluation, on April 11, 2016 the City Council selected MidPen Housing Corporation (MP Bradford Associates, L.P., a California limited partnership, the “Developer”) as the entity with which to enter into exclusive negotiations for redevelopment of the Property; and WHEREAS, on May 23, 2016, the City Council approved an Exclusive Negotiating Rights Agreement (the “Agreement) with the Developer for a 180-day term. The term of the Agreement was extended once by the City Manager and twice by the Council to October 16, 2017; and WHEREAS, the Developer has proposed developing the property with an affordable housing project that will include at least 117 rental apartments for senior citizens at affordable rents, ground floor commercial space designed for use as a childcare center, 59 residential parking spaces, at least 15 commercial parking spaces, a publicly-accessible creek-side trail, and related improvements (the “Project); and WHEREAS, the City Council has determined that the Disposition and Development Agreement between the City of Redwood City and MP Bradford Associates, L.P., attached hereto as Exhibit A, would further the purposes of and appropriately implement the City of Redwood City General Plan, and the Downtown Precise Plan. NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: Section 1. Evidentiary Basis: The City Council, having independently heard, considered, and weighed all the evidence in the record, finds that the above recitals are accurate and constitute findings in this matter and, together with the staff report and the Disposition and Development Agreement have together served as an adequate and appropriate evidentiary basis for the findings and actions set forth in this Resolution. Section 2. Surplus Lands: Pursuant to Article V of Chapter 2 of the Redwood City Municipal Code, the City has determined that the interests to be conveyed in the Property to 6.3.B. - Page 7