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����JYY e��Y�,9 <br /> RATIFICATION AND AMENDMENT TO LOAN AGREEMENT <br /> BETWEEN THE CITY OF REDWOOD CITY AND THE <br /> FORMER REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY <br /> (CITY/RDA LOAN) <br /> THIS RATIFICATION AND AMEND T TO LOAN AGREEMENT (this <br /> "Amendment") is entered into this � day of , 2016, by and between the <br /> CITY OF REDWOOD CITY, a charter crty and mun ipal co oration (the "City"), and the <br /> SUCCESSOR AGENCY TO THE REDEVELOPMENT ENCY OF THE CITY OF <br /> REDWOOD CITY, a public body (the "Successor Agency"). <br /> RECITALS <br /> The City and the Successor Agency (individually, a "Party" and collectively, the <br /> "Parties") enter into this Amendment with reference to the following facts and circumstances: <br /> A. Pursuant to the provisions of the California Community Redevelopment Law <br /> (Health and Safety Code Section 33000 et seq.) ("CRL"), the City Council of City activated the <br /> Redevelopment Agency of the City of Redwood City (the "Redevelopment Agency") and <br /> subsequently adopted the Redevelopment Plan for the Redwood City Redevelopment Project <br /> No. 2 in 1982, and amended from time to time (the "Redevelopment Plan"). <br /> B. On September 8, 2003, the Redwood City City Council and Redevelopment <br /> Agency Board conceptually approved a plan to finance various downtown improvements which <br /> relied upon bonds being issued by the Redevelopment Agency and a $3 million loan from the <br /> City to the Redevelopment Agency ("Loan"). The various downtown improvements included the <br /> Courthouse Facade Restoration, the Jefferson Underground Parking Garage, the Block 2 Parking <br /> Lot, and Block 2 Land Assembly ("Projects"). <br /> C. The Redevelopment Agency, by Minute Order No. RD OS-01, and the City, by <br /> Minute Order No. OS-13, both adopted on January 24, 2005, approved and authorized execution <br /> of a Loan Agreement("City/RDA Loan Agreement")to evidence the loan of funds by the City to <br /> the Redevelopment Agency for the Projects. <br /> D. Assembly Bill 1X 26 ("AB 26"), enacted in June 2011, AB 1484 ("AB 1484"), <br /> enacted in June 2012, and other subsequently adopted legislation (collectively, the "Dissolution <br /> Act") required the dissolution of redevelopment agencies and established certain procedures and <br /> requirements for the wind-down of their activities. <br /> E. The Successor Agency is the successor entity to the former Redevelopment <br /> Agency and, pursuant to the Dissolution Act, is responsible for the wind-down of the affairs of <br /> the former Redevelopment Agency, including without limitation the performance and repayment <br /> of all enforceable obligations of the former Redevelopment Agency. <br /> F. Health and Safety Code Section 34171(d)(2) provides, with a few exceptions, that <br /> "enforceable obligation" does not include any agreements, contracts, or arrangements between <br /> the city, county, or city and county that created the redevelopment agency and the former <br /> Page 1 of 4 <br /> ATTY/AGR/2016.013/RATIFICATION AND AMENDMENT TO LOAN AGREEMENT <br /> REV:O1-25-16 VR <br />