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3. The City Council direct staff to return to Council with the appropriate budget adjustment for Fiscal Year 06/07. (904) Adopt RESOLUTION 14746 OF INTENTION TO APPROVE AN AMENDMENT TO CONTRACT BETWEEN THE CITY OF REDWOOD CITY AND THE CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM ORDINANCE APPROVING AND AUTHORIZING EXECUTION OF THE AMENDMENT TO THE CONTRACT WITH THE CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM AND THE CITY COUNCIL OF THE CITY OF REDWOOD CITY TO PROVIDE GOVERNMENT CODE SECTIONS 21574 — FOURTH LEVEL OF 1959 SURVIVOR BENEFITS FOR INTERNATIONAL ASSOCIATION OF FIRE FIGHTERS LOCAL 2400 MEMBERS EFFECTIVE JANUARY 22, 2007. MINUTE ORDER 06 -219 6.4 Section — Claims and Warrants A. Approve warrants dated through November 13, 2006 and usual and necessary payments through November 20, 2006. (303) MINUTE ORDER 06 -218 6.1 Section — Motions (Continued) F. Purchase vacant property at 777 Bradford Street for development of an affordable senior housing project and possible childcare facility. CITY COUNCIL/REDEVELOPMENT AGENCY Recommendation: 1. By motion, authorize the Executive Director to execute purchase and sale agreement between Richard Gardella and Agency to purchase Bradford Street Assessor's Parcel Number 052 - 372 -170 for $1.2 million plus Agency's share of the closing costs; 2. By motion, approve the following appropriations to fund the purchase transaction: a. $204,319.24 from CDGB Fiscal Year 2006/07 funds b. $322,579.51 from HOME Fiscal Year 2006/07 funds c. $175,000.00 from RDA Capital Fiscal Year 2006/07 funds d. $150,000.00 from 1991 Bond Proceeds Fiscal Year 2006/07 e. $353,101.25 from housing set -aside funds allocated in the Redevelopment Agency's Fiscal Year 2005/06 Housing Capital Budget JOINT CITY COUNCILIREDEVELOPMENT AGENCY NOVEMBER 13, 2006 MEETING AGENDA PAGE 7 MINUTE BOOK NO. 61 Page No. 281