Laserfiche WebLink
_ 1/29/01 <br />ORI aIiJ{IL _ <br />RESOLUTION NO. 14140 <br />RESOLUTION OF THE COUNCIL OF THE CITY OF REDWOOD <br />CITY ACCEPTING AND APPROVING SUMMARY REPORT <br />REGARDING PROPOSED DISPOSITION AND DEVELOPMENT <br />AGREEMENT FOR THE DOWNTOWN RETAIL - CINEMA - OFFICE <br />AND PARKING PROJECT AND MAKING CERTAIN FINDINGS <br />REQUIRED UNDER CALIFORNIA REDEVELOPMENT LAW <br />WHEREAS, the Redevelopment Agency of the City of Redwood City <br />( "Agency ") and the City have negotiated a "Disposition and Development <br />Agreement for Downtown Retail- Cinema - Office and Parking Project" ( "DDA") <br />with Western Innisfree Ventures, LLC; and <br />WHEREAS, the DDA provides that in return for Developer's performance <br />the Agency shall attempt to acquire by negotiation or, if unable to do so, shall <br />consider acquiring by eminent domain certain parcels or portions thereof located <br />within the Project Site (the "Acquisition Parcels ") and, thereafter, convey the to <br />Developer the Acquisition Parcels, an Agency owned parcel ( "Agency Parcel ") <br />and a City owned parcel (the "City Transfer Parcel "); and <br />WHEREAS, pursuant to Section 33433 of the Health and Safety Code, the <br />Agency has ordered to be prepared a summary report which describes and <br />examines certain financial elements of the transactions contemplated under the <br />DDA ( "Summary Report" prepared by Keyser Marston Associates Inc., dated <br />January 2001), which Summary Report is attached hereto and incorporated <br />herein by this reference; and <br />WHEREAS, the Agency has submitted the Summary Report to the City <br />Council for its review and, pursuant to Section 33433 of the Health and Safety <br />Reso -1077 1 <br />AK:djk <br />F:Shared /Redwood /Council <br />01/24/01 <br />