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Page 1 of 7 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />STAFF REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br />DATE: October 27, 2025 <br />SUBJECT <br />Final acceptance of the Seaport Centre Levee Improvements and the Seaport Plaza Levee Improvements, <br />summary vacation of portions of the easement formerly known as Seaport Levee, and the Second <br />Amendment to the Levee Financing and Improvement Agreement <br />RECOMMENDATION <br />1. Adopt a resolution accepting as complete the Levee and Related Flood Protection Facilities on Seaport <br />Plaza and the Modified Levee and Related Flood Protection Facilities on Seaport Centre ; <br />2. Adopt a resolution summarily vacating a portion of the easement for maintenance of the Seaport <br />Centre Levee pursuant to Part 3 of Division 9 of Chapter 4 of the California Streets and Highways Code; <br />and <br />3. Adopt a resolution approving a Second Amendment to Levee Financing and Improvement Agreement <br />among the City of Redwood City, HCP LS Redwood City, LLC, Metropolitan Life Insurance Company, <br />and Seaport Centre Owners’ Association. <br />STRATEGIC PLAN GUIDING PRINCIPLE <br />Economic Vitality <br />BACKGROUND <br />Redwood City’s Seaport Centre is a business and biotech hub, located adjacent to the San Francisco Bay <br />(SF Bay) on the Seaport Peninsula. Developed in the 1980s, it has become a vibrant center for commercial <br />and research activities. Two key stakeholders of Seaport Centre are the Metropolitan Life Insurance <br />Company (“MetLife”) and HCP LS Redwood City, LLC (“HCP”). MetLife and HCP each own a portion of the <br />Seaport Centre. HCP also owns a portion of the adjacent Seaport Plaza. Seaport Centre Owners’ <br />Association, a California corporation (“SCOA”) is an owners’ association that manages Seaport Centre and <br />Seaport Plaza. <br />8.C. - Page 1 of 117 <br />191