Laserfiche WebLink
<br />(b) The reconstruction and widening of Seaport <br />Boulevard from U.S. 101 to the Port of Redwood <br />City is essential for the proper development <br />of Seaport Centre and for the entire "Seaport" <br />sub-area; and <br /> <br />(c) No other reasonable means of financing such <br />project exists except by the use of tax <br />increment funds. <br /> <br />2. This Council and this Agency desire to provide for long-term <br /> <br />financing of the Seaport Boulevard project by debt of the Agency to be <br /> <br />repaid by tax increments accruing to the Agency generated by the <br /> <br />Seaport Centre development. <br /> <br />3. That agreement (form dated 1/12/83R) by and among the City <br /> <br />of Redwood City, the Redevelopment Agency of the City of Redwood City <br /> <br />and Lincoln Property Company No. 388, a copy of which agreement is <br /> <br />on file in the office of the City Clerk, to which copy reference is <br /> <br />hereby made for full particulars thereof, is hereby approved. <br /> <br />4. The City Manager is hereby authorized to execute the <br /> <br />aforesaid agreement for and on behalf of the City of Redwood City, <br /> <br />and the Chairman of the Redevelopment Agency is hereby authorized to <br /> <br />execute said agreement for and on behalf of the Redevelopment Agency <br /> <br />of the City of Redwood City. <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />3 <br />