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6.2A <br /> Page 3 <br /> RESOLUTiON NO. <br /> A RESOLUTION AUTHORlZING THE CITY MANAGER AND <br /> REDEVELOPIUiENT AGEI�CY DiRECTOR TO EXECUTE A PURCHAS� <br /> AGREEMENT AND ESCROW INSTRUCTIONS FOR 6'i 1 HELLER <br /> STREET REDWOOD CITY CALIFORNIA AND TO EXECUTE ALL <br /> �aCUMENTS PERTAENlNG THERET� <br /> WHEREAS, the Palice Department and Code Enforcement have found the <br /> building located at 619 Heller Street, Redwood City, California, hereinafter the <br /> "Property", to be a Nuisance hazard which endangers the life and safety of the public; <br /> and <br /> t�luER��RS, t!�;e �rore,-ty �wner uefau�tcd an their loan wi#h respe:,t to the <br /> property and the property owner's bank has now foreclosed on the loan; and <br /> WHEREAS, on November 5, 2007, the Housing staff recommended to and #he <br /> Redevelopment Agency Board agreed that the Agency should enter into negotiations <br /> with the lender, Chase Bank; and <br /> �iIVHERE/AS, Housing staff ofFered Chase Bank the listing price of$649,000, with <br /> a deposit of$2,000; and <br /> WHEREAS, on Navember 7, 2007, Chase Bank acceptad the Agency's offer and <br /> the Agency has made an initial down payment of $17,470, together with the deposit all <br /> being paid into escrow; and <br /> WHEREAS, the remaining amount due to close escrow is approximately <br /> $630,427.39 plus $2,547.39 for ciosing costs and title policy insurance. The escrow is <br /> scheduled fo close in 45 days or approximately December 19, 2007; and <br /> W�iER��►S, this real praperty has unciergone e�ensive remodeling without <br /> building permits; and <br /> WHER�AS, the agency has requested the Bay Area Air Quafity Management <br /> District Compliance and Enforcement Division to issue a demolition permit upon proof of <br /> Asbestos and Lead Based Paint survey and removal prior to or as part of the demolition <br /> process. <br /> J// <br /> /// <br /> ATTYIRESO/RES0.1771 <br /> 120607 <br />