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<br />B. Childcare facility on city-owned land in Redwood Shores adjacent to water tank "A" <br />and proposed residential suites hotel at the southern terminus to Twin Dolphin Drive; <br /> <br />Staff Contact: Corinne <br />ccenteno@}redwoodcity.org <br /> <br />Centeno, <br /> <br />Parks <br /> <br />Recrs. <br /> <br />& <br /> <br />Comm. <br /> <br />Srvs. <br /> <br />Director <br /> <br />780- 7254 <br /> <br />Recommendations: <br /> <br />1. <br /> <br />Approve the basic business terms of a site lease and financial arrangement, as <br />summarized in this report and in Attachment 2 Term Sheets for Land Lease and <br />Financing, for development of a childcare facility on the water tank "A" parcel; <br />Approve the transaction amount at the requested $3.2 million; <br />Direct staff to continue negotiations and prepare a site lease and related documents <br />for public bidding of the transaction. <br /> <br />2. <br />3. <br /> <br />These actions will make it possible for the developer to proceed with his final <br />assessment of financial feasibility, obtain closure as soon as possible on all <br />business terms and proceed with the project. <br /> <br />11. WRITTEN COMMUNICATIONS - None <br /> <br />12. BOARDS, COMMISSION AND COMMITTEE REPORTS - None <br /> <br />12. CLOSED SESSION -None <br /> <br />13. ADJOURNMENT <br /> <br />MOTION: <br /> <br />TO ADJOURN UNTIL THE REGULAR MEETING OF NOVEMBER 27, <br />2000. <br /> <br />*SPEAKERS, ATTENTION: Speaker's cards are on the rostrum. If you wish to speak, please <br />complete the card and give it to Council Volunteer Art Balsamo (seated to the left of the Council <br />Members). The Mayor will recognize you at the appropriate time when your item is under <br />consideration by the Council. If your item is not on the agenda, the Mayor will recognize you <br />during the Oral Communications portion of the Council meeting. Please keep your comments to <br />3 minutes to allow for others to speak. <br /> <br />NOVEMBER 13, 2000 <br />PAGE 6 <br /> <br />REGULAR COUNCIL MEETING <br />AGENDA <br /> <br />.. ...-.--,......... ,... ."..-........--..--¡--" ""'---------r---"""""" <br />