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09/13/2010 <br />ORIGINAL <br />RESOLUTION NO. 15051 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD <br />CITY MAKING CERTAIN FINDINGS RELATED TO THE PROPOSED <br />SALE OF PROPERTY AT 3272 ROLISON ROAD AND AUTHORIZING <br />THE INITIATION OF NEGOTIATIONS <br />WHEREAS, the City provided CDBG funds to help rehabilitate certain real <br />property located at 3272 Rolison Road (the "Property "); and <br />WHEREAS, in order to prevent the Property from being sold in foreclosure <br />proceedings, the City acquired the Property in 1995; and <br />WHEREAS, due to the location of the Property, which is not convenient to public <br />transit or other services, the City has not been able to sell the Property and has <br />maintained it as affordable housing; and <br />WHEREAS, the area surrounding the Property is stabilizing and the San Mateo <br />County Service League has indicated it would be interested in purchasing the Property <br />and maintaining it as affordable housing; and <br />WHEREAS, Section 3 1/2 of the Redwood City Charter sets forth the process the <br />City must follow for the disposition of City -owned property, including obtaining an <br />appraisal and soliciting bids; and <br />WHEREAS, pursuant to Government Code section 37364, if the City Council <br />finds and determines that it would be in the City's best interests to have the Property <br />used for affordable housing and subject to certain conditions, the City may sell the <br />Property for less than fair market value, which provisions override the provisions of any <br />city charter; and <br />ATTY /RESO /RESO.2050 1 #15051 <br />090810 MUFF # 609 <br />