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O RIGINAL ATTACHMENT 3 <br /> PUBLIC IMPROVEMENTS <br /> REIMBURSEMENT AGREEMENT <br /> THIS PUBLIC IMPROVEMENTS REIMBURSEMENT AGREEMENT <br /> ( "Agreement ") is entered into this 1-vv - \ day of March, 2011, by and between the CITY <br /> OF REDWOOD CITY ( "City ") and the REDEVELOPMENT AGENCY OF THE CITY OF <br /> REDWOOD CITY ( "Agency "), with reference to the following facts: <br /> A. Agency has prepared a Redevelopment Plan ( "Redevelopment Plan ") for <br /> the Redwood City Redevelopment Project Area No. 2 ( "Project Area "), which results in <br /> the allocation of property taxes from the Project Area, to the Agency ( "Tax Increment ") <br /> pursuant to Section 33670(b), of the California Community Redevelopment Law <br /> (Health & Safety Code Section 33000 et seq.) ( "CRL ") for purposes of redevelopment. <br /> B. The intent of the Redevelopment Plan is, in part, to provide for the <br /> construction and installation of necessary public infrastructure and facilities and to <br /> facilitate the restoration and /or replacement of existing inadequate public facilities; to <br /> take all other necessary actions to implement the Redevelopment Plan for the Project <br /> Area; and to expend Tax Increment to accomplish the goals and objectives of the <br /> Redevelopment Plan. <br /> C. The Agency has adopted Five -Year Implementation Plan for the Project <br /> Area ( "Implementation Plan ") establishing goals for elimination of blight, production of <br /> affordable housing, construction of infrastructure and public improvements and <br /> community and commercial revitalization. To implement the programs and activities <br /> associated with each goal, the Agency has committed redevelopment funds from the <br /> Project Area based on estimated available Tax Increment revenue and debt financing <br /> structures. The Redevelopment Plan and the Implementation Plan and all official <br /> records of the Agency, as amended from time to time, are incorporated herein by <br /> reference. <br /> D. Pursuant to Section 33220 of the CRL, certain public bodies, including the <br /> City may aid and cooperate in the planning, undertaking, construction, or operation of <br /> redevelopment projects. Agency desires assistance and cooperation of the City to carry <br /> out the public infrastructure and improvement projects listed in Exhibit 1 attached hereto <br /> and incorporated herein by this reference (collectively, "Projects "). The programs and <br /> activities associated with the Projects include but are not limited to acquisition of <br /> property, development of design criteria, design, planning, preparation of construction <br /> bid documents, financial analysis, financing, project administration and new construction <br /> or rehabilitation, as applicable. <br /> E. The City is willing to aid and cooperate with the Agency to expeditiously <br /> implement the Projects in accordance with the Redevelopment Plan and <br /> Implementation Plan on the condition that Agency pledge Net Available Tax Increment, <br /> as defined in Recital F below, to finance the Projects in this current fiscal year and <br /> forthcoming fiscal years. <br /> 1 <br /> ATTY /AGR/2011.022/ RWC PUBLIC IMPROVEMENTS REUMBURSEMENT AGREEMENT <br /> 030711 REVISED <br />