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2. The City Council determines based on evidence in record that the estimated <br />restricted resale price of the Property is $371,780 and the value of the capital <br />improvements is $3,000 for a total purchase price of $374,780. <br />3. CEQA. This activity is not a project under California Environmental Quality <br />Act (CEQA) as defined in CEQA Guidelines, section 15378, because it has no potential <br />for resulting in either a direct or reasonably foreseeable indirect physical change in the <br />environment. This activity is also exempt under section 15O61(b)(3) because it has no <br />potential for causing a significant effect on the environment. <br />4. The City Council approves and authorizes the City Manager or her <br />designee, to execute the Purchase Agreement between the City of Redwood City and <br />Rhonda Coffman attached hereto as Exhibit A, and incorporated herein by reference, with <br />such minor conforming, technical or clarifying changes or revisions as may be approved <br />by the City Attorney, which do not materially increase the obligations of the City <br />thereunder. The City Manager or her designee and the City Clerk are further authorized <br />and directed to take such further actions and execute such documents on behalf of the <br />City as are necessary to carry out the transaction contemplated by the Purchase <br />Agreement on behalf of the City, including without limitation, the Certificate of Acceptance <br />attached hereto as Exhibit B, and incorporated herein by reference. <br />5. This resolution shall take effect immediately upon its adoption. <br />ATTY/RESO.0070/CC RESO APPROVING THE PURCHASE & SALE AGREEMENT OF BELOW MARKET UNIT 1231 WARREN ST. UNIT 105 <br />REV: 09-09-2021 SK <br />Page 2 of 3 <br />