AgdaPkt 2025.09.08 Joint SA PFA - Laserfiche WebLink

Browse Search

Page 1 of 4 City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org STAFF REPORT To the Honorable Mayor and City Council From the City Manager DATE: September 8, 2025 SUBJECT Third Amendment to Parking Facilities Agreement between the City of Redwood City, and RAR2 - BROADWAY AT REDWOOD CITY - CA, INC., successor-in-interest to BHV Innisfree Ventures I, LLC, with CENTURY THEATRES, INC. as a third-party beneficiary RECOMMENDATION By motion, approve and authorize the City Manager to execute Amendment No. 3 to the Parking Facilities Agreement with RAR2 - BROADWAY AT REDWOOD CITY - CA, INC., successor-in-interest to BHV Innisfree Ventures I, LLC, with CENTURY THEATRES, INC. as a third-party beneficiary. STRATEGIC PLAN GUIDING PRINCIPLE Economic Vitality BACKGROUND During the early 2000s, Redwood City underwent significant redevelopment within the Downtown Area. A large portion of this redevelopment involved the relocation of the Century movie theater from East Bayshore Road near Highway 101 to central downtown Redwood City, as part of the On Broadway Development. As part of the On Broadway Development and the related Development Agreement, RAR2 - BROADWAY AT REDWOOD CITY - CA, INC., (successor-in-interest to BHV Innisfree Ventures I, LLC) transferred ownership and management responsibility of the Jefferson Garage to Redwood City. In July 2004, to support the development and relocation of the movie theater, Redwood City entered into a 20- year Parking Facilities Agreement with On Broadway and Century Theaters (the “Agreement”). The Agreement was to ensure sufficient parking to support both the On Broadway project and the rest of the downtown businesses. At the time, the success of the project and downtown businesses seemed dependent on the availability of a certain number of parking spaces and other protections within the Agreement. 8.G. - Page 1 of 40 118