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,I I I <br /> ~ 0 R I G I N A L _5/96 <br /> <br /> RESOLUTION NO. 12690 <br /> <br /> RESOLUTION OF THE COUNCIL OF THE CITY OF REDWOOD <br /> CITY MAKING FINDINGS AND APPROVING SALE OF LAND BY <br /> REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY <br /> PURSUANT TO DISPOSITION AND DEVELOPMENT <br /> AGREEMENT FOR THE MAIN/MIDDLEFIELD REDEVELOP- <br /> MENT PROJECT AND AUTHORIZING EXECUTION OF <br /> DOCUMENTS PERTAINING THERETO <br /> <br /> WHEREAS, the City of Redwood City (the "City") and the Redevelopment <br /> Agency of the City of Redwood City (the "Agency") have undertaken preliminary <br /> studies and activities for the construction of a project referred to as the <br /> Main/Middlefield Redevelopment Project (the "Project") including the construction <br /> of affordable housing, a child care center, and a commercial component within <br /> the Agency's Redevelopment Project Area No. 2 (the "Project Area"); and <br /> <br /> WHEREAS, the City and the Agency, respectively, have heretofore <br /> acquired parcels of land bordered in part by Main Street and Middlefield Road in <br /> the City of Redwood City (the "Project Site") which Site is more particularly <br /> described in the Disposition and Development Agreement hereinafter referenced <br /> with the intent of revitalizing the downtown area and creating additional <br /> affordable housing; and <br /> <br /> WHEREAS, pursuant to the previsions of Health and Safety Code Section <br /> 32220, the City hereby transfers all title and interest in certain parcels of land <br /> within the Project Site to the Agency; and <br /> <br /> WHEREAS, the parcels within the Project Site owned by the Agency were <br /> acquired with tax increment moneys; and <br /> <br /> <br />