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<br />COpy <br /> <br />6/8/98 <br /> <br />RESOLUTION NO. 13359 <br /> <br />RESOLUTION APPROVING AND AUTHORIZING EXECUTION <br />OF AGREEMENT FOR THE CONSTRUCTION OF STREET <br />IMPROVEMENTS (BAIR ISLAND ROAD EXTENSION) <br /> <br />WHEREAS, Irvine Apartment Communities, L. Po, a Delaware limited <br />partnership ("Irvine") owns, or shall succeed to the ownership of, approximately <br />12.12 acres of land located on Bair Island in the City of Redwood City, <br />designated by Assessor's Parcel Number ("APN") 052-540-030 (the <br />"Development Property"); and <br /> <br />WHEREAS, Irvine proposes to develop the Development Property for <br />residential and small boat marina uses (the "Development"); and <br /> <br />WHEREAS, preliminary approvals by the City of Redwood City for the <br />Development require that Irvine shall construct improvements on an extension of <br />Bair Island Road, (the "Street Parcel"), and thereafter convey title to the <br />improvements to the city; and <br /> <br /> <br />WHEREAS, irrespective of the final approval and completion of Irvine's <br />Development, the public interest and necessity require acquisition and <br />improvement of the Street Parcel; and <br /> <br />WHEREAS, Irvine is willing to provide, at its cost and expense, for the <br />construction of the street improvements to the Street Parcel, in accordance with <br />the provisions of the Agreement hereinafter referenced; <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE <br />CITY OF REDWOOD CITY, AS FOLLOWS: <br /> <br />R eso-389 <br />DES:jg <br />F\S he red! S haredl R edwoodI Cou nci I <br />04113198 <br />