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WHEREAS, the formation of a Citywide or Areawide Traffic Impact Fee <br />Program and/or other Funding Programs is not anticipated to feasibly occur prior <br />to issuance of a building permit for the Project; and <br /> <br /> WHEREAS, notwithstanding that City has not adopted such Funding <br />Programs or established other funding mechanisms, City and Kaufman & Broad - <br />South Bay, Inc., the owner of the Property, desire to provide for traffic mitigation <br />for the Project by entering into an agreement for the funding of off-site roadway <br />improvements. <br /> <br /> NOW, THEREFORE, <br /> <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD <br />CITY, AS FOLLOWS: <br /> <br /> That certain agreement entitled, "Agreement for the Funding of Off-site <br />Roadway Improvements (Kaufman & Broad Bair Island Road Condominiums)" <br />between the City of Redwood City, a municipal corporation of the State of <br />California, and Kaufman & Broad - South Bay, Inc., a copy of which agreement is <br />on file in the office of the City Clerk, to which copy reference is hereby made for <br />the full particulars thereof, is hereby approved, and the Manager and City Clerk <br />are hereby authorized and directed to execute, and to attest thereto, <br />respectively, said agreement for and on behalf of the City of Redwood City. <br /> <br />F:~shared~Redwood\Council\ 3 <br />Reso-446 <br />FXS:rg <br />07/09/~8 <br /> <br /> <br />