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<br />6/8/98 <br /> <br />copy <br /> <br />RESOLUTION NO. 13358 <br /> <br />RESOLUTION APPROVING AND AUTHOPIZING EXECUT'ON <br />OF AGREEMENT FOR THE ACQUISITION OF REAL <br />PROPERTY (BAIR ISLAND ROAD EXTENSION) <br /> <br />WHEREAS, RIAB Development, Inc., a California corporation ("RIAB"), <br />owns approximately 12.12 acres of land located on Bair Island in the City of <br />Redwood City, designated by Assessor's Parcel Number ("APN") 052-540-030 <br />(the "Development Property"); and <br /> <br />WHEREAS, RIAB proposes to develop, or to provide for the development <br />of, RIAB's property for residential and small boat marina uses (the <br />"Development"); and <br /> <br />WHEREAS, in order to provide improved access to the Development, <br />property interests necessary for the extension of Bair Island Road (the "Street <br />Parcel", more particularly described in the Agreement hereinafter referenced) <br />must be acquired; and <br /> <br /> <br />WHEREAS, RIAB does not possess property rights in the Street Parcel <br />sufficient to provide conveyance of title thereto to the city, or otherwise to <br />provide for the construction of the improvements thereon necessary to provide <br />improved access to the Development; and <br /> <br />WHEREAS, irrespective of the final approval and completion of the <br />Development; the public interest and necessity require acquisition of the Street <br />Parcel and the improvement thereof; <br /> <br />R eso-39O <br />DES:jg <br />F \Shared! Shared! R edwoodI Cou nci I <br />0411 3J98 <br />