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11/09/2015 <br /> ORIGINAL <br /> RESOLUTION NO. 15455 <br /> RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD <br /> CITY AS HOUSING SUCCESSOR AGENCY TO THE REDWOOD CITY <br /> REDEVELOPMENT AGENCY APPROVING AND AUTHORIZING AN <br /> OMNIBUS AMENDMENT TO LOAN MODIFICATION BY AND AMONG <br /> THE CITY OF REDWOOD CITY AS HOUSING SUCCES50R AGENCY <br /> TO THE REDWOOD CITY REDEVELOPMENT AGENCY, THE <br /> SUCCESSOR AGENCY, MEZES COURT ASSOCIATES AND A TO BE <br /> FORMED LIMITED PARTNERSHIP <br /> WHEREAS, under AB 1X 26, enacted by the California State Legislature and <br /> signed by the Governor as part of the 2011-2012 State budget, a new Part 1.85 was <br /> added to Division 24 of the California Health and Safety Code (Health and Safety Code <br /> Section 34170 et seq., as may be amended, the "Dissolution Act") and, in accordance <br /> therewith, all redevelopment agencies in the State of California, including the Redwood <br /> City Redevelopment Agency ("Redevelopment Agency"), were dissolved as of February <br /> 1, 2012; and <br /> WHEREAS, in compliance with the Dissolution Act, the City of Redwood City <br /> ("City") determined it would serve as the Successor Agency to the Redwood City <br /> Redevelopment Agency ("Successor Agency") effective February 1, 2012; and <br /> WHEREAS, the Oversight Board of the Successor Agency to the Redwood City <br /> Redevelopment Agency ("Oversight Board") has been established to oversee the <br /> Successor Agency's actions in winding down the affairs of the Redevelopment Agency <br /> in accordance with the Dissolution Act; and <br /> WHEREAS, Mezes Court Associates, a California Limited Partnership <br /> ("Borrower") has requested a modification to the loan by and between Borrower and the <br /> City of Redwood City as Successor Agency to the Redwood City Redevelopment <br /> Agency ("RDA"); and <br /> ATfY/RE50.3151/CC RESO AUTHORIZING LOAN MODIFICATION FOR MCA RESO.#15455 <br /> REV: 10-29-15 VR MUFF#455 <br /> Page 1 of 4 <br />